New data from Glassnode reveals a significant decline in Bitcoin balances held on centralized exchanges, signaling a shift in market behavior.
Since late March, the total BTC held on exchanges has dropped from approximately 3.11 million to just over 3.01 million as of May 13, 2025.
This nearly 100,000 BTC reduction coincides with a steep rally in price—from $86,000 to over $104,000—suggesting increased investor confidence and reduced selling pressure.
Historically, declining exchange balances are associated with accumulation phases, where investors move their holdings to cold storage in anticipation of higher prices.
With Bitcoin approaching its all-time highs and exchange balances at their lowest levels in months, this trend may reinforce the broader bullish outlook currently forming across the crypto market.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/bitcoin-supply-on-exchanges-drops-sharply-as-price-nears-all-time-high/