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Bitcoin exchange balances trend back to historic lows as BTC withdrawals resume in January
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Bitcoin (BTC) exchange reserves are back near record lows as 2022 sparks renewed appetite among buyers.
Data from on-chain analytics firm CryptoQuant shows reserves across 21 exchanges at 2.308 million BTC as of Jan. 4.
Late December saw a macro low of 2.303 million BTC left on exchanges’ books, CryptoQuant recorded, before a brief uptick to 2.334 million.
As institutional entities return to the market after the holiday period, however, the downtrend has resumed, this in line with expectations that larger-volume buyers would step in beginning in Q1.
Exchange balance data is a topic of some debate this week. Different statistics sources use varying numbers of exchanges and wallets, resulting in data that is barely comparable.
CryptoQuant’s 21
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