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Mass exodus of Bitcoin: 2.3M BTC leaves exchanges as balance plummets below 12%

exchange68September 13, 2024

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Quick Take

Bitcoin exchange balance falls below 12%; this was first achieved at the beginning of 2023.
We now see substantial coins leaving exchanges; the equivalent 12% is 2.3 million Bitcoin.
Binance holds roughly 3.5% (686,000), while Coinbase holds 2.3% (461,000).
The black lines represent halvings, with the next halving approaching April 2024; this current halving is the first time we see a drop in exchange balance.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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