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Bitcoin exchange deposits hit three-year low Bitcoin exchange deposits hit three-year low James Van Straten · 2 years ago
Insights Bitcoin

Bitcoin exchange deposits hit three-year low

Data via Glassnode

Exchange withdrawals are starting to outpace deposits for the first time since SVB collapse as investors hesitate to part with their BTC.

James Van Straten / @jvs_btc / May. 15, 2023 at 12:45 pm UTC

Quick Take

  • Bitcoin exchange deposits hit a three-year low.
  • While exchange withdrawals are starting to outpace deposits for the first time since the SVB collapse back in March.
  • This suggests fewer investors are willing to part with their Bitcoin and send it to exchanges.
  • This isn’t suggesting withdrawals are increasing. They are staying relatively flat, emphasizing the deposits falling rapidly.

Bitcoin exchange deposits = 45,000 Bitcoin

Bitcoin exchange withdrawals = 51,176 Bitcoin

Exchange Dominance: (Source: Glassnode)
Exchange Dominance: (Source: Glassnode)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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