Bitcoin Exchange Reserves at Record Lows — Yet Price Remains Weak
Bitcoin held on exchanges has dropped to a new all-time low, a signal traditionally seen as bullish due to reduced selling pressure.
However, as 2025 nears its end, BTC risks closing below its opening price. Despite accelerated withdrawals and only ~2.75M BTC left on exchanges, price has fallen from $126K to around $86.5K.
The reason? Liquidity is thinning. Lower Inter-Exchange Flow (IFP) means weaker trading activity and fragile order books, making prices sensitive to small sell-offs. At the same time, Binance—now absorbing most inflows—has become the market’s main liquidity hub, muting broader bullish signals.
Bottom line: Record-low reserves alone aren’t enough. Weak liquidity and capital concentration continue to limit Bitcoin’s upside.
BTC
85,463.56
-0.49%
BNB
828.32
-1.21%