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Bitcoin continues to see its supply moving away from exchanges, reported blockchain analytics platform Santiment on Monday.
Over the past year, a net total of 403,200 BTC has moved off centralized trading platforms, representing a 2.1% reduction in the entire supply held on exchanges, according to the report.
In general, this is a positive long-term sign, according to Santiment.
<blockquote>
 “The less coins that exist on exchanges, the less likely we’ve historically seen a major sell-off that causes downside pressure for an asset’s price.”
</blockquote>
<h2 id="exchange-outflows-are-bullish">Exchange Outflows Are Bullish</h2>
Investors usually take coins off exchanges to hodl or custody, which is bullish. They send them to exchanges in preparation for selling, which is bearish.
Around 14.7% of the total Bitcoin supply is currently held on exchanges, <a href="https://studio.glassnode.com/charts/distribution.BalanceExchangesRelative?a=BTC&amp;zoom=all" rel="noopener noreferrer nofollow">according</a> to Glassnode. This has been in decline since mid-2022, when almost 18% was held on exchanges.
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f4ca.png" alt="📊" style="height: 1em; max-height: 1em;"> As Bitcoin’s market value hovers around $90K, crypto’s top market cap continues to see its supply moving away from exchanges. Over the past year, there has been:
 <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f4c9.png" alt="📉" style="height: 1em; max-height: 1em;"> A net total of -403.2K <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> moving off exchanges <img src="https://s.w.org/images/core/emoji/16.0.1/72x72/1f4c9.png" alt="📉" style="height: 1em; max-height: 1em;"> A net reduction of -2.09% of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>‘s entire supply moving… <a href="https://t.co/Y0JTC880Np" rel="noopener noreferrer nofollow">pic.twitter.com/Y0JTC880Np</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1998111858419478563?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 8, 2025</a>
</blockquote>

The figures for Ethereum are even more favorable, with just 8.7% of the supply held on exchanges and a steady decline from over 30% in 2020 as ETH is staked, custodied, and scooped up by treasury companies.
Back to Bitcoin, analysts believe that the bottom is strengthening, which could lead to a rebound. The OBV (On-Balance Volume) chart is a lot cleaner than the price, <a href="https://x.com/Sykodelic_/status/1998150155535855685" rel="noopener noreferrer nofollow">said</a> analyst Sykodelic on Tuesday.
<blockquote>
 “It is both holding and moving stronger than the price … which shows us the buying is far stronger than the selling.”
</blockquote>
Meanwhile, fellow analyst “Daan” <a href="https://x.com/DaanCrypto/status/1998121326134120808" rel="noopener noreferrer nofollow">said</a> Bitcoin was “stalling while its bull market support band is closing in.”
Analyst “Colin” was also bearish, identifying a bear flag continuation pattern, “which means a move down would be the expected outcome.”
If such a move down did occur, $74,000 to $77,000 would be the likeliest bottom, he said.
<h2 id="short-term-pain-remains">Short-term Pain Remains</h2>
It appears that Colin may have been onto something, as Bitcoin had lost the $90,000 level again at the time of writing.
The asset had lost 1.4% on the day and was trading at $89,862, but remained within its weekly range-bound channel.
Bitcoin has struggled to break through resistance at $92,000. It appears that this week’s Federal Reserve rate cut is already <a href="https://cryptopotato.com/will-the-fed-rate-decision-move-crypto-markets-this-week/" rel="noopener noreferrer nofollow">priced in</a>, so it is unlikely to get a boost from that, and down appears to be the path of least resistance.
The post <a href="https://cryptopotato.com/bitcoin-exchange-outflows-accelerate-despite-short-term-price-weakness/" rel="noopener noreferrer nofollow">Bitcoin Exchange Outflows Accelerate Despite Short-Term Price Weakness</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Bitcoin Exchange Outflows Accelerate Despite Short-Term Price Weakness

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