TechFlow news, on December 2, according to Decrypt, 10x Research in a recent report pointed out that Bitcoin balances on cryptocurrency exchanges have reached an all-time low, with on-chain data showing a sharp decline in the amount of Bitcoin available for purchase. The report noted this contrasts sharply with trends seen at the end of summer, when a sudden inflow temporarily replenished exchange reserves. This time, however, no such inventory increase has occurred, exacerbating supply tightening.
Analysts said Bitcoin and the broader cryptocurrency market are being driven by favorable catalysts, signaling continued growth over the coming year. On-chain analysis indicates that long-term holders—typically viewed as a stabilizing force in the market—remain firmly committed, limiting Bitcoin inflows into exchanges and reducing liquidity. It pointed out that currently only three major CEXs (Bitfinex, Binance, and Coinbase) report sufficient Bitcoin reserves to meet buyer demand. Smaller exchanges face growing challenges in maintaining liquidity, which could lead to increased price volatility.
