Bitcoin Supply Shock: Only 12% Of BTC Supply Is On Exchanges Now

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,576,432,373	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,576,432,373

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000163	-0.14%	0.120155	0.120144	0.120186

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000163

-0.14%

0.120155

0.120144

0.120186

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.120703	0.120003	0.120318	0.120318	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.120703

0.120003

0.120318

- - -

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	03:52:46	226.80	0.120155	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

03:52:46

226.80

0.120155

USD

Price x Volume	Volume	Base Symbol	Related Pairs
15,378.23	127,600.25	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

15,378.23

127,600.25

Bitcoin Supply Shock: Only 12% Of BTC Supply Is On Exchanges Now

17/01/2022 7:00pm

NEWSBTC

Percentage of the Bitcoin supply on exchanges has dipped further down to 12% recently, as the supply shock continues to deepen. Just 12% Of Bitcoin Supply Is Now Held By Exchanges As pointed out by an analyst in a CryptoQuant post, the percentage of BTC supply stored on exchanges has now dropped down to just 12%. The all exchanges reserve is an on-chain indictor that measures the total amount of Bitcoin currently held by wallets of all exchanges. The “percentage of BTC supply on exchanges” is a metric that tells us the ratio between the exchange reserve and the total supply of the crypto. When the value of this indicator moves up, it means exchange wallets are receiving a net amount of coins. As investors usually send their coins to exchanges for selling purposes, this supply is often referred to as the sell supply of the market. Therefore, an uptrend in it can be bearish for the price of the crypto. On the other hand, when the metric’s value moves down, it means holders are withdrawing their Bitcoin from exchanges. Prolonged such trend can imply there is accumulation going on in the market, and the available supply is shrinking. Hence, downwards movement of the indicator can be bullish for BTC. Related Reading | Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up Now, here is a chart that shows the trend in the value of this metric over the past few years: Looks like the supply on exchanges has been heading down since a while now | Source: CryptoQuant As you can see in the above graph, the percentage of the Bitcoin supply on exchanges has shrunk down to just 12% now. The indicator’s last all-time high (ATH) was made at around 16%. Since then, the metric has been steadily making its way down, and has now dropped 4% in value. Related Reading | Jack Dorsey’s Block To Democratize Bitcoin Mining With Open Source Mining System Some traders believe that this decrease in the supply on exchanges may be creating a supply shock in the market. Such a scenario would be bullish for the price of Bitcoin in the long term. However, some recent data goes against the narrative, arguing that the supply has merely redistributed itself in the form of investment vehicles like ETFs. BTC Price At the time of writing, Bitcoin’s price floats around $42.7k, up 3% in the last seven days. Over the past month, the crypto has lost 11% in value. The below chart shows the trend in the price of the coin over the last five days. BTC's price has once again started to move sideways in the $40k to $45k range over the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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