Bitcoin Supply on Exchanges Rose to 1.332 Million BTC in August

The Bitcoin shortage observed on trading platforms since the beginning of summer has come to an end. According to Santiment data, investors moved 84% of the Bitcoin they withdrew from exchanges back to liquid wallets in the first three weeks of August. During this period, the price of Bitcoin hovered around $63,500. Santiment's data indicates that the visible supply on exchanges peaked at 1.337 million BTC on June 12, then fell to 1.304 million BTC on July 28. Approximately 33,000 BTC were withdrawn from exchanges during this process, resulting in a total decline of 2.5%. However, as of August 16, exchange balances rose to 1.332 million BTC, just 5,200 BTC below the June peak. Santiment noted that the declining exchange supply throughout the summer has largely returned in August, and liquidity has been replenished. Experts emphasized that the creation of new Bitcoin ETF shares is not the same as the movements of open wallets on exchanges. Due to increasing macroeconomic risks, investors are keeping their funds ready on trading platforms for potential sell-offs. The expectation that supply tightness will drive prices up in the short term has weakened.

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