TLDR
- Over 403,000 Bitcoin have moved off exchanges since December 7, 2024, representing about 2% of the total supply
- ETFs and public companies now hold more Bitcoin than all exchanges combined, with ETFs holding over 1.5 million BTC
- Bitcoin is trading around $90,000 as traders await the Federal Reserve’s policy decision on interest rates
- The Fed is expected to cut rates by 25 basis points with an 87% probability according to futures markets
- Strategy purchased another 10,624 Bitcoin between December 1-7, bringing its total holdings to 660,624 BTC
Bitcoin has seen a mass exodus from cryptocurrency exchanges over the past year. Market intelligence platform Santiment reported that 403,000 Bitcoin left exchanges since December 7, 2024.
📊 As Bitcoin's market value hovers around $90K, crypto's top market cap continues to see its supply moving away from exchanges. Over the past year, there has been:
📉 A net total of -403.2K $BTC moving off exchanges
📉 A net reduction of -2.09% of $BTC's entire supply moving… pic.twitter.com/Y0JTC880Np— Santiment (@santimentfeed) December 8, 2025
This represents roughly 2% of Bitcoin’s total supply. A year ago, exchanges held around 1.8 million Bitcoin.
The outflows signal a shift in how investors are storing their holdings. Many users move Bitcoin into cold storage wallets for long-term holding.
Santiment notes this trend typically reduces selling pressure. When fewer coins sit on exchanges, major sell-offs become less likely historically.
Institutions Drive Supply Shift
ETFs and public companies are absorbing much of the Bitcoin leaving exchanges. Data from BitcoinTresuries.Net shows these entities now hold more Bitcoin than all exchanges combined.
ETFs currently hold over 1.5 million Bitcoin. Public companies control more than one million coins.
Together, these institutional holders account for nearly 11% of Bitcoin’s total supply. This marks a fundamental change in Bitcoin’s ownership structure.
Giannis Andreou, CEO of Bitmern Mining, says institutional ownership has entered a new phase. Bitcoin is moving straight into regulated vehicles rather than trading platforms.
CoinGlass data confirms the trend. Bitcoin held on exchanges sat at around 2.11 million as of November 22.
Price Action and Fed Decision
Bitcoin traded at $90,011 on Tuesday morning. The cryptocurrency has consolidated in the $90,000 to $92,000 range.
Traders are waiting for the Federal Reserve’s policy meeting that started Tuesday. Markets expect a quarter-point rate cut with 87% probability.
BREAKING: There is now a 94% chance that the Fed will cut interest rates on Wednesday, per Polymarket.
The 3rd rate cut of 2025 is coming. pic.twitter.com/d7a7coKSDY
— The Kobeissi Letter (@KobeissiLetter) December 8, 2025
Lower interest rates make Bitcoin more attractive compared to cash and bonds. The potential easing cycle has supported Bitcoin’s price recovery that began in late 2024.
Fed officials remain divided on the path forward. Some uncertainty exists about whether the central bank will actually cut rates.
Strategy made another large Bitcoin purchase last week. The company bought 10,624 Bitcoin between December 1 and December 7.
The average purchase price was $90,615 per coin. Strategy now holds 660,624 Bitcoin total, making it the largest publicly traded Bitcoin treasury company.
