Bitcoin (BTCUSD)

[ap17]

EXCHANGE BALANCES PLUMMETING 📉
Today we’ll be taking a look at the amount of Bitcoin available for sale on exchanges.

Here’s how to interpret this metric:

Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

onchain
Currently there is only 2,298,129 Bitcoin available for sale on exchanges.

That’s ~11.66% of the entire circulating supply.

And it’s plummeting. 📉

Over the last two weeks, exchange balances have dropped by 34,159 Bitcoin. (~$2.30 billion)

This metric is super simple:

Less Bitcoin on exchanges = Less Bitcoin available for sale

There just isn’t that much BTC available for sale. And it’s decreasing every single week.

And eventually, there won’t be any Bitcoin left to buy… 🚀