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Bitcoin Exchange Reserve Plummets to 2023 Lows Amid Price Rally

Guavy AI Editorial Team
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BTC
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The Bitcoin exchange reserve has dropped to a fresh multi-year low, reaching 2.68 million BTC as of October 3. This decline is a result of increased demand for the asset following its brief price recovery to around $87,000.

According to data from CryptoQuant, the exchange reserve has been trending lower across several Bitcoin market cycles, with the last peak occurring in early 2024 when it reached 3.2 million BTC. At that time, the price of Bitcoin was below $70,000.

Despite the substantial price changes over time, the downtrend in the reserve level has continued through the asset's rally toward $73,000 in 2024, its 2025 bull run toward $126,000, and the subsequent market pullback in 2026. The decline in Bitcoin's exchange supply has not been tied to a single price event, and it has now retraced to 2023 levels.

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