Cryptocurrency

Bitcoin

<div class="sg-post-des">
 Inactive Bitcoin addresses have hit all-time highs across one-, three- and five-year time domains while BTC outflows from exchanges continue. 
</div> 
<div class="cointelegraph"> 
 On-chain data suggests that Bitcoin (BTC) holders are accumulating BTC with exchange holdings down to yearly lows and the percentage of in<a rel="noopener noreferrer nofollow" title="active" href="https://thebittimes.com/tag/active.html">active</a> BTC <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> at all time <a rel="noopener noreferrer nofollow" title="highs" href="https://thebittimes.com/tag/highs.html">highs</a>. 
 According to Glassnode’s Bitcoin <a rel="noopener noreferrer nofollow" title="supply" href="https://thebittimes.com/tag/supply.html">supply</a> last <a rel="noopener noreferrer nofollow" title="active" href="https://thebittimes.com/tag/active.html">active</a> chart, in<a rel="noopener noreferrer nofollow" title="active" href="https://thebittimes.com/tag/active.html">active</a> BTC that has not moved from an address for more than 1, 3 and 5 year time frames has been at all time <a rel="noopener noreferrer nofollow" title="highs" href="https://thebittimes.com/tag/highs.html">highs</a> since July 2023. 
 These metrics are mirrored&nbsp;by Bitcoin analytics from Coinmarketcap that tracks wallet addresses by the amount of time they’ve been holding BTC. An estimated 69%, or 36.8 million addresses have been holding BTC for more than a year. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/20/c724ad0d4fd6e6cb3d47dd5d26309010.webp"> 
 <figcaption style="text-align: center;">
 Source: Coinmarketcap Bitcoin analytics. 
 </figcaption> 
 </figure> 
 CryptoQuant charts&nbsp;also reflect Bitcoin outflows from exchanges that have steadily declined from July 2021, with just over 2 million BTC tipped to remain on exchanges. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/20/73af7126cfc96ad463db024ec3d5e045.webp"> 
 <figcaption style="text-align: center;">
 Source: CryptoQuant. 
 </figcaption> 
 </figure> 
 Coinglass’s Bitcoin on exchanges tracker&nbsp;breaks down the amount of circulating BTC held by major centralized exchanges.&nbsp; 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/20/97517aec0732fef7fa36a992c46c6f9a.webp"> 
 <figcaption style="text-align: center;">
 Cryptocurrency exchange Bitcoin holdings. Source: Coinglass. 
 </figcaption> 
 </figure> 
 Binance tops the list with some 543,281 BTC on its books, but the exchange has seen significant Bitcoin outflows over the past 30 days. 21,645 BTC has been withdrawn from Binance in the last month. 
 Coinbase Pro’s BTC balance of 435,530 BTC puts leaves it second on the list, with the U.S. based exchange also having seen 3,612 BTC withdrawn from its platform over the last 30 days. 
 Related:&nbsp;Bitcoin price all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> high will precede 2024 halving — New prediction 
 OKX is the only exchange in the top ten that recorded a significant inflow of Bitcoin in the last 30 days, with 4,630 BTC being moved onto the platform over the past month. 
 Market commentators and analysts have delivered lofty predictions of the potential value of Bitcoin with its fourthly, highly-anticipated mining reward halving set to take place in 2024. 
 Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space. 
 Magazine:&nbsp;Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi coming soon 
 <template data-name="subscription_form" data-type="markets_outlook"></template> 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoiners-are-stacking-em-up-inactive-btc-supply-hits-all-time-highs-tbt63346.html">https://thebittimes.com/bitcoiners-are-stacking-em-up-inactive-btc-supply-hits-all-time-highs-tbt63346.html</a>

Bitcoiners are stacking ’em up: Inactive BTC supply hits all-time highs

TheBitTimes

Other articles published on Sep 20, 2023

Arbitrum Odyssey Returns Next Week

Mixed Trends Emerge in Top 10 Cryptocurrencies Amid Market Volatility

Troubled crypto exchange JPEX applies for deregistration in Australia

Bitcoin Nears Resistance at $27,500: Can it Break Through?

Ripple Rises Among Big Tech Titans: Earns Spot on Fortune’s Best Workplaces List

Toncoin breaks into the top 10 after adding 30% in one week

Join our free newsletter for daily crypto updates!