“Wild” data shows that more BTC supply than is available on exchanges has been dormant for at least 10 years.

The latest data shows that Bitcoin

price decline

Since early 2018, there has been a decrease in BTC available for purchase on exchanges.

On-chain analytics firm Glassnode has confirmed that exchange reserves have reached a five-year low by February 2023.

The “Wild Stat” shows the maturity of the Bitcoin supply.
The latest stats reflect the decisions of Bitcoin holders as BTC balances on major exchanges are in “downward only” mode.

As of February 27, the most recent date for which data is available, the platforms tracked by Glassnode held a total of 2,272,798 BTC.

This figure was previously very low in March 2018, but in March 2020 it now stands at an all-time high of 3,202,326 BTC.

After the COVID-19 cross market collapse, foreign exchange reserves started to decline 29% today through a 2022 bear market.

Meanwhile, the impressive numbers don’t end there.

As noted by William Clemente, co-founder of Reflexivity, a Bitcoin-focused research firm, low balances on exchanges mean they now hold less BTC than ancient hodler addresses.

“Bitcoin is now more than an exchange that has not moved for at least 10 years. Wild stat,” he said on Feb. 28.

According to Glassnode data, the total amount of BTC over 10 years is 2,645,956 BTC, which is 16% more than the total exchange balance.

No panic selling here.
As Cointelegraph reported, holders have increased their resilience in 2023 after facing a brutal bear market over the past year.

Related: BTC Whale Population Declines to Early 2020 Levels – 5 Things You Need to Know About Bitcoin This Week

BTC price action peaks but continues to hold due to limited selling and increased exposure.

The trend shows no signs of reversing from current levels, with holders’ total net position change this weekend hitting a four-month high.

Source: CoinTelegraph