{"id":521309,"date":"2023-02-28T13:30:10","date_gmt":"2023-02-28T13:30:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=521309"},"modified":"2024-06-11T08:03:36","modified_gmt":"2024-06-11T08:03:36","slug":"dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves\/","title":{"rendered":"Dormant Bitcoin Now 16% Higher Than BTC In Exchange Reserves"},"content":{"rendered":"

With the fact that there can ever only be 22 million Bitcoin in circulation, BTC has always been bound to be scarce over time as the asset flourishes in mainstream adoption while its value continues to rise.\u00a0<\/span><\/p>\n

According to the latest <\/span>data<\/span><\/a> from the on-chain analytics firm, Glassnode, the amount of BTC that is dormant is beginning to surpass available Bitcoin for purchase on exchanges. <\/span>Co-founder of Bitcoin-focused research firm Reflexivity, William Clemente, noted: \u201cThere is now more Bitcoin that hasn’t moved in at least 10 years than there is on exchanges.\u201d<\/span><\/p>\n

\"Bitcoin
Bitcoin (BTC) Supply Last Active. | Source: Will Clemente<\/a><\/figcaption><\/figure>\n

Bitcoin On Exchanges Less Than BTC That Are Dormant\u00a0<\/span><\/h2>\n

The Glassnode data indicates there could be a fast accumulation of BTC which has now put the amount of BTC on exchanges in a down-only mode compared to BTC which is dormant. The rapid growth and adoption of the <\/span>crypto market<\/span><\/a> have made the industry more crowded than ever.<\/span><\/p>\n

Compared to 10 years ago when buying <\/span>BTC<\/span><\/a> might be quite tasking, purchasing BTC in these modern days is now as fast and efficient as possible so that literally anyone on the internet can have access to the asset given the various number of Bitcoin exchanges in the market.\u00a0<\/span><\/p>\n

Related Reading: How Bitcoin Has Revolutionized the Crypto Market<\/a><\/div>\n

Coinmarketcap notes that there are over 500 exchanges in the market and more than 50% have Bitcoin listed. As of February 27, Glassnode revealed that there are only <\/span>2,272,798 BTC held by all exchanges combined.\u00a0<\/span><\/p>\n

\"Bitcoin
Bitcoin (BTC) Balance On Exchanges. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

This figure is relatively low compared to the amount of BTC that is dormant for 10 years or more which is 2,645,956 BTC accounting for 16% more than BTC on exchange reserves. Notably, the number of BTC held on exchanges hit an all-time high of 3,202,326 BTC as of March 2020 and has plummeted ever since.\u00a0<\/span><\/p>\n

BTC Gearing For A Bearish Move?<\/span><\/h2>\n

While Bitcoin has been experiencing a change in circulation, the asset’s value hasn\u2019t been left out. Since the beginning of the year, Bitcoin has surged by more than 40% after moving from a $16,000 low seen late last year to tapping as high as $25,000 earlier this month.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Two-Month Rally Slows Down, What\u2019s Next?<\/a><\/div>\n

However, the crypto asset’s rally has <\/span>slowed down<\/span><\/a>, up by less than 2% in February alone compared to its significant rally last month. BTC has only added about $1,500 to its value this month after trading above the $25,000 market for the first time in recent months.\u00a0<\/span><\/p>\n

Furthermore, the BTC price chart has shown ambivalent moves in the past few days leaving <\/span>traders in a bewildered state<\/span><\/a>. Yesterday, the asset rallied by nearly 3%. Meanwhile, today, BTC has indicated a bearish trend, down by 0.2% in the last 24 hours.<\/span><\/p>\n

\"Bitcoin
Bitcoin is moving sideways on the 1-day chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Viewing the 1-day time frame, BTC is still <\/span>above the support of $22,800<\/span><\/a>. Should BTC break the support, the assets could be in for a continuous downtrend to take all the sell-side liquidity till it trades just above the $18,000 region.\u00a0<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView.<\/div>\n","protected":false},"excerpt":{"rendered":"

With the fact that there can ever only be 22 million Bitcoin in circulation, BTC has always been bound to be scarce over time as the asset flourishes in mainstream adoption while its value continues to rise.\u00a0 According to the latest data from the on-chain analytics firm, Glassnode, the amount of BTC that is dormant is beginning to surpass available Bitcoin for purchase on exchanges. Co-founder of Bitcoin-focused research firm Reflexivity, William Clemente, noted: \u201cThere is now more Bitcoin that hasn’t moved in at least 10 years than there is on exchanges.\u201d Bitcoin On Exchanges Less Than BTC That Are Dormant\u00a0 The Glassnode data indicates there could be a fast accumulation of BTC which has now put the amount of BTC on exchanges in a down-only mode compared to BTC which is dormant. The rapid growth and adoption of the crypto market have made the industry more crowded than ever. Compared to 10 years ago when buying BTC might be quite tasking, purchasing BTC in these modern days is now as fast and efficient as possible so that literally anyone on the internet can have access to the asset given the various number of Bitcoin exchanges in the market.\u00a0 Related Reading: How Bitcoin Has Revolutionized the Crypto Market Coinmarketcap notes that there are over 500 exchanges in the market and more than 50% have Bitcoin listed. As of February 27, Glassnode revealed that there are only 2,272,798 BTC held by all exchanges combined.\u00a0 This figure is relatively low compared to the amount of BTC that is dormant for 10 years or more which is 2,645,956 BTC accounting for 16% more than BTC on exchange reserves. Notably, the number of BTC held on exchanges hit an all-time high of 3,202,326 BTC as of March 2020 and has plummeted ever since.\u00a0 BTC Gearing For A Bearish Move? While Bitcoin has been experiencing a change in circulation, the asset’s value hasn\u2019t been left out. Since the beginning of the year, Bitcoin has surged by more than 40% after moving from a $16,000 low seen late last year to tapping as high as $25,000 earlier this month.\u00a0 Related Reading: Bitcoin Two-Month Rally Slows Down, What\u2019s Next? However, the crypto asset’s rally has slowed down, up by less than 2% in February alone compared to its significant rally last month. BTC has only added about $1,500 to its value this month after trading above the $25,000 market for the first time in recent months.\u00a0 Furthermore, the BTC price chart has shown ambivalent moves in the past few days leaving traders in a bewildered state. Yesterday, the asset rallied by nearly 3%. Meanwhile, today, BTC has indicated a bearish trend, down by 0.2% in the last 24 hours. Viewing the 1-day time frame, BTC is still above the support of $22,800. Should BTC break the support, the assets could be in for a continuous downtrend to take all the sell-side liquidity till it trades just above the $18,000 region.\u00a0 Featured image from Unsplash, Chart from TradingView.<\/p>\n","protected":false},"author":580,"featured_media":521312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1558,61309],"class_list":["post-521309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-cryptocurrency","tag-glassnode"],"acf":[],"yoast_head":"\nDormant Bitcoin Now 16% Higher Than BTC In Exchange Reserves<\/title>\n<meta name=\"description\" content=\"With the fact that there can ever only be 22 million Bitcoin in circulation, BTC has always been bound to be scarce over time as the asset flourishes 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dormant Bitcoin Now 16% Higher Than BTC In Exchange Reserves","url":"http:\/\/ktsl888.com\/news\/dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","cryptocurrency","glassnode"],"dateCreated":"2023-02-28T13:30:10Z","datePublished":"2023-02-28T13:30:10Z","dateModified":"2024-06-11T08:03:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dormant Bitcoin Now 16% Higher Than BTC In Exchange Reserves\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/dormant-bitcoin-now-16-higher-than-btc-in-exchange-reserves\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?fit=1140%2C815\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"cryptocurrency\",\"glassnode\"],\"dateCreated\":\"2023-02-28T13:30:10Z\",\"datePublished\":\"2023-02-28T13:30:10Z\",\"dateModified\":\"2024-06-11T08:03:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/521309"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=521309"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/521309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/521312"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=521309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=521309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=521309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}