As per 528btc, 403,200 BTC were net withdrawn from exchanges between December 7, 2024, and December 7, 2025, according to Santiment data. This reduced the total circulating supply on exchanges by 2.09%, from 8.13% to 6.04%. The decline in exchange holdings coincided with a drop in selling pressure, as off-exchange Bitcoin is less likely to re-enter the market quickly.
403,200 BTC Exit Exchanges, Highlighting Bitcoin Scarcity
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