{"id":363788,"date":"2024-11-26T18:25:28","date_gmt":"2024-11-26T18:25:28","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=news&#038;p=363788"},"modified":"2024-11-26T18:25:28","modified_gmt":"2024-11-26T18:25:28","slug":"bitcoin-reserves-on-exchanges-drop-to-2018-lows-as-price-surges-to-99k","status":"publish","type":"news","link":"https:\/\/www.techopedia.com\/news\/bitcoin-reserves-on-exchanges-drop-to-2018-lows-as-price-surges-to-99k","title":{"rendered":"Bitcoin Reserves on Exchanges Drop to 2018 Lows as Price Surges to $99K"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">Bitcoin (BTC)<\/a> reserves on exchanges fell to 2.5 million, returning to 2018 levels.\u00a0<\/strong><\/p>\n<p>The decline has been consistent throughout 2024. <a href=\"https:\/\/www.techopedia.com\/definition\/decentralized-finance-defi\">Decentralized finance (DeFi)<\/a> analysts note that this drop coincides with increasing institutional interest in acquiring cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The BTC supply on exchanges is now at the lowest point since 2018.<\/p>\n<p>All while institutional demand is rising.<\/p>\n<p>A supply squeeze is coming. <a href=\"https:\/\/t.co\/lpMhsBMA2x\" target=\"_blank\">pic.twitter.com\/lpMhsBMA2x<\/a><\/p>\n<p>&mdash; The DeFi Investor \ud83d\udd0e (@TheDeFinvestor) <a href=\"https:\/\/twitter.com\/TheDeFinvestor\/status\/1861311416155680931?ref_src=twsrc%5Etfw\" target=\"_blank\">November 26, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span id=\"btc_reaches_new_ath_while_reserves_on_exchanges_fall\">BTC Reaches New ATH While Reserves on Exchanges Fall<\/span><\/h2>\n<p><a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/exchange-flows\/exchange-reserve?exchange=all_exchange&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line#\" target=\"_blank\">According to CryptoQuant<\/a>, <a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">Bitcoin<\/a> reserves on exchanges were at 3.019 million as of January 2, 2024.<\/p>\n<p>Until the end of January, <a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">BTC<\/a> exchange reserves slightly increased, reaching 3.070 million. However, from February onwards, the trends diverged: Bitcoin&#8217;s price began to rise, while its exchange reserves declined.<\/p>\n<p>In March, Bitcoin\u2019s price surpassed $71,000. By November, BTC had <a href=\"https:\/\/www.techopedia.com\/bitcoin-price-history\">broken its all-time high (ATH) multiple times<\/a>, reaching $99,645 on November 22.<\/p>\n<p>Despite this price surge, BTC reserves fell below the 2018 level of 2.5 million.<\/p>\n<figure id=\"attachment_363792\" aria-describedby=\"caption-attachment-363792\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55.png\" alt=\"BTC reserves on crypto exchanges fall as Bitcoin price rises | Source: CryptoQuant\" width=\"1200\" height=\"675\" class=\"wp-image-363792\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55.png 1999w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-300x169.png 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-1024x576.png 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-768x432.png 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-1536x864.png 1536w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-1200x675.png 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image1-55-1980x1114.png 1980w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-363792\" class=\"wp-caption-text\">BTC reserves on crypto exchanges fall as Bitcoin price rises | Source: CryptoQuant<\/figcaption><\/figure>\n<p>Historically, low <a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">BTC<\/a> reserves on exchanges are often seen as a signal of a bull run.<\/p>\n<h2><span id=\"bitcoin_spot_etf_inflows_grow_after_us_presidential_election\">Bitcoin Spot ETF Inflows Grow After US Presidential Election<\/span><\/h2>\n<p>Bitcoin ETF data highlights increasing interest from major institutional players.<\/p>\n<p>On November 7, Bitcoin ETF net inflows reached a new ATH of $1.36 billion, surpassing the previous peak of $1.04 billion on March 12, 2024. While inflows have slightly declined since November 26, they remain higher than in previous months.<\/p>\n<p>This growth is particularly notable following the conclusion of the US presidential election. The uptick to increased confidence in <a href=\"https:\/\/www.techopedia.com\/definition\/27193\/bitcoin-btc\">Bitcoin<\/a> stemming from <a href=\"https:\/\/www.techopedia.com\/how-important-is-donald-trump-to-the-future-of-crypto\">Donald Trump&#8217;s cryptocurrency policies<\/a> and the new administration&#8217;s favorable stance.<\/p>\n<figure id=\"attachment_363793\" aria-describedby=\"caption-attachment-363793\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><img decoding=\"async\" src=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40.png\" alt=\"Net inflow of Bitcoin ETF grows post-US presidential election | Source: CoinGlass\" width=\"1200\" height=\"422\" class=\"wp-image-363793\" srcset=\"https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40.png 1999w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-300x106.png 300w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-1024x360.png 1024w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-768x270.png 768w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-1536x540.png 1536w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-1200x422.png 1200w, https:\/\/www.techopedia.com\/wp-content\/uploads\/2024\/11\/image2-40-1980x696.png 1980w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-363793\" class=\"wp-caption-text\">Net inflow of Bitcoin ETF grows post-US presidential election | Source: CoinGlass<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) reserves on exchanges fell to 2.5 million, returning to 2018 levels.\u00a0 The decline has been consistent throughout 2024. Decentralized finance (DeFi) analysts note that this drop coincides with increasing institutional interest in acquiring cryptocurrency. The BTC supply on exchanges is now at the lowest point since 2018. All while institutional demand is rising. [&hellip;]<\/p>\n","protected":false},"author":287256,"featured_media":363823,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"news-category":[2140],"class_list":["post-363788","news","type-news","status-publish","format-standard","has-post-thumbnail","hentry","news-category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Reserves on Exchanges Drop to 2018 Lows as Price Surges to $99K - Techopedia<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) reserves on exchanges fell to 2.5 million, returning to 2018 levels.\u00a0 The decline has been consistent throughout 2024. 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