{"id":372333,"date":"2023-10-13T10:11:22","date_gmt":"2023-10-13T08:11:22","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=372333"},"modified":"2023-10-13T10:11:22","modified_gmt":"2023-10-13T08:11:22","slug":"bitcoin-exchanges-record-lowest-btc-supply-in-six-years-indicating-strong-hodling","status":"publish","type":"post","link":"https:\/\/crypto-news-flash.com\/de\/bitcoin-exchanges-record-lowest-btc-supply-in-six-years-indicating-strong-hodling\/","title":{"rendered":"Bitcoin Exchanges Record Lowest BTC Supply in Six Years, Indicating Strong Hodling"},"content":{"rendered":"<ul style=\"font-weight: 400;\">\n<li style=\"font-weight: 400;\"><strong>According to recent on-chain data, the current supply of Bitcoin on exchanges have declined to newer levels.\u00a0<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>The new week looks promising for Bitcoin, as the apex cryptocurrency clears weekly losses, and heads towards the $26,000 price levels.\u00a0<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>As market experts had previously predicted, Bitcoin\u2019s supply has continued to dwindle. Newly obtained market metrics have strengthened these predictions, as Bitcoin holders seem to be taking a large number of Bitcoin assets off exchanges.<\/p>\n<p>According to leading in-chain metrics platform Santiment, Bitcoin\u2019s supply on exchanges have dropped to even lower levels. The drop reflects the highest decline in exchange supply in nearly 6 years.<\/p>\n<p>At present, only a little over 5% of Bitcoin \u2018s overall supply is still held on exchanges. In addition to this, an increase in whale transactions has also been spotted in the market.<\/p>\n<blockquote><p>\u201cJust 5.8% of Bitcoin is currently sitting on exchanges, which is officially the lowest level crypto&#8217;s top market cap asset has seen since December 17, 2017. We are also continuing to see reasonable amounts of BTC whale transactions (57.4K per week).\u201d Santiment wrote.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc8\ud83e\uddd0 The top 10 assets by highest level of address activity:<\/p>\n<p>1 <a href=\"https:\/\/twitter.com\/Bitcoin?ref_src=twsrc%5Etfw\">@Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a><br \/>2 <a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> (<a href=\"https:\/\/twitter.com\/hashtag\/BinanceChain?src=hash&amp;ref_src=twsrc%5Etfw\">#BinanceChain<\/a>)<br \/>3 <a href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\">@Tether_to<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDT<\/a><br \/>4 <a href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MATIC<\/a><br \/>5 <a href=\"https:\/\/twitter.com\/litecoin?ref_src=twsrc%5Etfw\">@litecoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24LTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LTC<\/a><br \/>6 <a href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\">@Tether_to<\/a> (<a href=\"https:\/\/twitter.com\/hashtag\/Polygon?src=hash&amp;ref_src=twsrc%5Etfw\">#Polygon<\/a>)<br \/>7 <a href=\"https:\/\/twitter.com\/worldcoin?ref_src=twsrc%5Etfw\">@worldcoin<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24WLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$WLD<\/a><br \/>8 <a href=\"https:\/\/twitter.com\/hashtag\/BinanceUSD?src=hash&amp;ref_src=twsrc%5Etfw\">#BinanceUSD<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BUSD<\/a><br \/>9 <a href=\"https:\/\/twitter.com\/bitcoincashorg?ref_src=twsrc%5Etfw\">@bitcoincashorg<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24BCH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BCH<\/a><br \/>10 <a href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\">@Tether_to<\/a> (<a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a>) <a href=\"https:\/\/t.co\/k3NPHLGVVv\">pic.twitter.com\/k3NPHLGVVv<\/a><\/p>\n<p>&mdash; Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1694873165410029758?ref_src=twsrc%5Etfw\">August 25, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It bears mentioning that Bitcoin\u2019s bullish patterns goes beyond the aforementioned data. Notably, Bitcoin has topped the list of assets with the highest level of pf address activity. Bitcoin, and 9 other assets, including Ether, USDT, and <a href=\"https:\/\/www.crypto-news-flash.com\/de\/?p=370009\">MATIC<\/a>, have more than double the active addresses of any other asset on the market.<\/p>\n<h3>Bitcoin clears hourly losses, heads toward the $26,000 price mark<\/h3>\n<p>Meanwhile, the new week seems to be much more promising for Bitcoin and other cryptocurrencies in the market. A handful of assets have managed to successfully clear weekly losses, and have returned to the green zone; Bitcoin is one such asset.<\/p>\n<p>The apex cryptocurrency has managed to secure mild gains over the last 24 hours, as trading volume skyrockets, with gains surging past 34%. Market cap is also correcting upwards. The asset now <a href=\"http:\/\/www.crypto-news-flash.com\/marketcap\">trades<\/a> at a press time price of $25,984. If Bitcoin bulls are able to sustain buying pressure for much longer, the asset could surpass the $26,000 price mark, and potentially retest its previous high of $26,198.<\/p>\n<p>On the other hand, Ethereum, the second most valued cryptocurrency by market cap, is also on a fundamentally bullish path. The on-chain analytics platform has revealed that 35% of Ethereum\u2019s total supply is now being held by the 10 largest Ethereum addresses.<\/p>\n<p>The new development, according to Santiment, might be due to market players capitulating their current position, as a result of the ongoing <a href=\"https:\/\/www.crypto-news-flash.com\/de\/binance-chef-berichte-ueber-bitcoin-dumping-zum-schutz-des-bnb-kurses-sind-panikmache\/\">FUD<\/a>, fueled by the recent crypto market decline.<\/p>\n<p>As Santiment\u2019s data reads;<\/p>\n<blockquote><p>\u201cThe 10 largest addresses on the Ethereum network are now holding over 35% of the available supply. By no means does this mean the [second-largest] asset in crypto is suddenly centralized, but it shows the capitulation of smaller traders showing FUD from this dip.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>According to recent on-chain data, the current supply of Bitcoin on exchanges have declined to newer levels.\u00a0 The new week looks promising for Bitcoin, as the apex cryptocurrency clears weekly losses, and heads towards the $26,000 price levels.\u00a0 As market experts had previously predicted, Bitcoin\u2019s supply has continued to dwindle. Newly obtained market metrics have<\/p>\n","protected":false},"author":66,"featured_media":274628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-372333","post","type-post","status-publish","format-standard","has-post-thumbnail"],"acf":[],"_links":{"self":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/372333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/comments?post=372333"}],"version-history":[{"count":0,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/posts\/372333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media\/274628"}],"wp:attachment":[{"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/media?parent=372333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/categories?post=372333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-news-flash.com\/de\/wp-json\/wp\/v2\/tags?post=372333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}