Main to remember::
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The bitcoin percentage offer on exchanges has dropped below 11% for the first time since 2018.
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Institutional adoption accelerates the withdrawals of the BTC from public exchanges.
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Confidence in centralized platforms is fragile after the FTX.
The Bitcoin (BTC) percentage offer on the scholarships fell at the bottom of the seven years, falling below 11% for the first time since March 2018, according to Glassnode data.
The peak occurred around March 2020, while more than 17.2% of the BTC offer was maintained in exchange. Since then, more than 6% of the total offer, or about 1.26 million BTC, has been removed from exchange portfolios.
Let us examine the main reasons for growing bitcoin withdrawal of crypto exchanges.
Bitcoin piles reach a two -year summit
Bitcoin investors keep their parts at the highest level in more than two years, according to the latest exchange flows to the table of network activity ratios by cryptocurrency.
The report, measuring the volume of BTC, the exchanges compared to the activity of the Onchain network, fell to its lowest reading since the beginning of 2023, signaling moderate exchange deposits despite the increase in prices.
At the beginning of June 2025, the 30 -day mobile average of the ratio was nearly 1.2, well below its average at 365 days and the standard deviation -1.
Historically, such low levels have marked periods of strong conviction among long -term bitcoin holders, investors preferring to storage cold in trading.
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This reduces the available supply, with fewer parts potentially on sale, even if Bitcoin is closer to all time.
Institutional guards replacing the exchanges of cryptography
Another major factor behind the reduction in Bitcoin supply between exchanges.
Instead of public exchanges, major financial institutions such as Blackrock, Fidelity and Franklin Templeton prefer third -party platforms.
Coinbase Prime, for example, said more than $ 212 billion in custody in the first quarter of 2025, pulled by “the entries of ETF issuers, companies and high net value”.
Coinbase Crypto Exchange, on the other hand, experienced more than $ 500 million in BTC outputs in the same quarter.
The outings continued in the second quarter, including 761 million withdrawals observed on June 5.
The FNBs attracted a large part of the bitcoin to their chests.
The net value of assets managed in the FNB Bitcoin Spot was $ 44.54 billion on June 5, against around 1 billion dollars when they launch in January of last year.
Supporting this trend, a survey in 2025 by Coinbase and Ey-Parthenon revealed that 83% of institutional investors plan to increase their exposure to cryptography, almost 60% allocating more than 5% of their alms to digital assets.
According to Standard Charterd, around 61 public companies already control more than 3% of the total of 21 million tokens.
Confidence in exchanges decreases after the collapse of the FTX
After the collapse of the FTX at the end of 2022, Bitcoin experienced a dramatic change in the exchange flows, as we see in the graph of Glassnode.
The net transfer volume (red bars) shows sustained outings from start to mid-2023, marking one of the greatest periods of withdrawal in the history of Bitcoin.
From November 2022 to May 2023, weekly outings have repeatedly exceeded 10,000 BTC, totaling much more than 200,000 BTC withdrawn from centralized exchanges.
This suggests that confidence in crypto exchanges has decreased since the collapse of the FTX, accelerating bitcoin withdrawal to auto-custria and alternative platforms for trading.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
