TLDR
- The Bitcoin exchange supply has dropped to just over 2.8 million BTC, the lowest level since July 2019.
- The supply decline follows Bitcoin reaching a new all-time high of $125,506 in the previous trading session.
- Increasing numbers of investors are withdrawing Bitcoin from exchanges and transferring it into self-custody storage.
- Corporate entities now hold 3.88 million BTC, which is over one million more than what is available on exchanges.
- The number of institutions holding Bitcoin has increased to 344, with the majority based in the United States.
The total Bitcoin exchange supply has dropped to just over 2.8 million BTC. This marks the lowest level since July 2019. The decline follows Bitcoin’s record high price of $125,506 reached just one day earlier.
Bitcoin Exchange Supply Hits Multi-Year Low
The supply of Bitcoin on exchanges has sharply declined following the asset’s new all-time high. On-chain data from Glassnode confirms that only 2.8 million BTC remain on major trading platforms. This reflects the lowest level of supply seen since mid-2019.
At that time, Bitcoin traded at only $8,745, a stark contrast to today’s market. The supply drop suggests that many holders are withdrawing BTC to self-custody. Cold wallets and private storage appear to be preferred amid growing market confidence.
This movement also hints at strategic decisions by long-term investors. Less BTC on exchanges means fewer tokens are readily available for sale. As a result, the supply-demand balance has shifted further in favor of scarcity.
Corporate Treasuries Now Hold More BTC Than Exchanges
Institutions have accelerated their Bitcoin accumulation over the past month. According to Bitcoin Treasuries, 25 new entities added BTC to their corporate holdings in 30 days. The total number of such institutions now stands at 344.
Out of these, 122 companies are based in the United States, which leads to global adoption. This surpasses the combined total of corporate holders in Canada, the U.K., Japan, and Hong Kong. The corporate BTC holdings now total 3.88 million BTC.
That figure exceeds the Bitcoin exchange supply by over 1 million BTC. This trend highlights a significant shift toward long-term storage strategies. It also underscores the influence of corporate actions on overall supply dynamics.
Michael Saylor’s well-known approach continues to inspire similar moves from other companies. Many are now converting cash reserves into BTC amid rising prices. This pattern points to sustained institutional confidence in Bitcoin as a strategic asset.
Bullish Structure Holds as Price Stabilizes Near Support
Bitcoin remains in a strong uptrend after hitting $125,506. At the time of writing, the token trades at around $123,610. It remains close to its 30-day moving average of $123,636.
This stability suggests buyers are defending key support levels. The Relative Strength Index stands at 53, showing a neutral position. This implies that the asset is neither overbought nor oversold.
The current RSI reading supports a period of consolidation. However, it also leaves room for renewed bullish momentum. A sustained hold above the $122,000–$123,000 range may lead to another breakout.
If support holds firm, Bitcoin could retest the $125,000 level soon. However, if prices break below the moving average, a drop to $120,000 is likely. That level previously acted as a consolidation zone and may offer further support.
