EXCHANGE BALANCESEXCHANGE BALANCES
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.
Currently there is only 2,326,603 Bitcoin available for sale on exchanges.
That’s ~11.81% of the entire circulating supply.
Decreasing exchange balances is one of the key reasons that many believe this bull run is different.
There simply isn’t that much BTC available for sale. And it’s decreasing every single week.
On a long enough timeline, the price of Bitcoin is inevitably going upwards.
Eventually, there won’t be any Bitcoin left to buy…
Thanks for the alpha. Can I ask where you got this information from