Glassnode: BTC balance on exchanges reaches lowest since August 2018

The total amount of BTC on all exchanges fell to a two – year low of 2.3 million BTC, this figure has been declining for most of 2020. The last time there were so many bitcoins on the exchanges was in August 2018.

According to Glassnode, the BTC balance on all major cryptocurrency exchanges fell to the level of August 2018, reaching a 27-month low. The current balance on the exchanges is 2.3 million BTC.

The total number of BTC on all exchanges has been growing since 2014, but since January of this year, the indicator has started to decline. In August, the total number of BTC on exchanges fell to 2.6 million. This week, the figure fell to 2.3 million.

At the same time, the price of bitcoin has been growing for a year. After the fall of
the markets in March, BTC recovered quite quickly and by November exceeded $19,000. However, on the morning of November 26, the bitcoin exchange rate began to decline sharply. In a few hours, the first cryptocurrency lost
$2,000 and after a short consolidation, the decline continued. Bitcoin is currently trading around $16,500.