{"id":92903,"date":"2026-05-16T09:31:32","date_gmt":"2026-05-16T09:31:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=92903"},"modified":"2026-05-16T09:31:32","modified_gmt":"2026-05-16T09:31:32","slug":"bitcoin-exchange-supply-remains-at-8-year-lows-bullish-sign","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=92903","title":{"rendered":"Bitcoin Exchange Supply Remains At 8-Year Lows: Bullish Sign?"},"content":{"rendered":"
\n

On-chain data shows the Bitcoin exchange reserves have been at 8-year lows for the past month despite the recovery that the asset has witnessed.<\/p>\n

Bitcoin Supply On Exchanges Has Been Flat Recently<\/h2>\n

As highlighted by on-chain analytics firm Santiment in an X post<\/a>, Bitcoin and Ethereum have differed in their trend of the Supply On Exchanges<\/a>. This indicator measures, as its name suggests, the total amount of a given asset that\u2019s currently stored in the wallets associated with centralized exchanges.<\/p>\n

When the value of the metric rises, it means investors are depositing a net number of tokens to these platforms. As one of the main reasons why holders transfer to exchanges is for selling-related purposes, this kind of trend can have a bearish impact on the cryptocurrency\u2019s price.<\/p>\n

On the other hand, the indicator witnessing a decline suggests the exchange outflows are overwhelming the inflows. Such a trend implies the investors may be participating in accumulation, which can naturally be a bullish signal.<\/p>\n

Now, here is the chart shared by Santiment that shows the trend in the Supply On Exchanges for Bitcoin and Ethereum over the past year:<\/p>\n

\"Bitcoin<\/p>\n

As displayed in the above graph, the Bitcoin Supply On Exchanges observed some decline during March and has since followed a mostly flat trajectory. Currently, around 5.6% of the BTC supply is sitting inside exchange-connected wallets. \u201cIt has stayed consistent around this level for the past month, and it is the lowest ratio of BTC supply on exchanges since 2018,\u201d noted the analytics firm.<\/p>\n

While Bitcoin has witnessed its exchange supply remain flat at 8-year lows recently, the trend has been a bit different for Ethereum. From the chart, it\u2019s apparent that ETH observed a much more dramatic decline in the Supply On Exchanges compared to BTC for most of the past year, but recently, the trajectory has flipped for the network.<\/p>\n

Over the past 10 days, Ethereum has seen the indicator go from 4.2% to 4.6%, which is a notable increase. \u201cNevertheless, this is also still near the lowest levels we\u2019ve seen since $ETH\u2019s public trading inception back in 2015,\u201d explained Santiment.<\/p>\n

Interestingly, the flat exchange netflow for Bitcoin has arrived while BTC has observed a recovery surge. This means that despite the profit-taking<\/a> opportunity, holders haven\u2019t made deposits to sell.<\/p>\n

Something to note when it comes to the Supply On Exchanges is that while exchanges held a central role in the digital asset sector earlier, the paradigm has shifted recently as a result of the emergence of off-chain investment routes like the spot exchange-traded funds (ETFs)<\/a>. As such, the exchange reserves alone no longer capture the full picture of the market.<\/p>\n

BTC Price<\/h2>\n

At the time of writing, Bitcoin is floating around $79,400, down 0.9% in the last seven days.<\/p>\n

\"Bitcoin<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows the Bitcoin exchange reserves have been at 8-year lows for the past month despite the recovery that the asset has witnessed. Bitcoin Supply On Exchanges Has Been Flat Recently As highlighted by on-chain analytics firm Santiment in an X post, Bitcoin and Ethereum have differed in their trend of the Supply On […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-92903","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/92903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=92903"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/92903\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=92903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=92903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=92903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}