According to CryptoQuant data, Bitcoin reserves across exchanges have declined to approximately 2.67 million BTC, while $BTC is trading around $82,500.

Notably, BTC reserves on exchanges have fallen from around 2.8 million BTC in February, representing a decrease of approximately 130,000 BTC, despite significant market volatility throughout 2026.

This indicates that the available Bitcoin supply on exchanges continues to shrink, potentially reflecting a trend of assets being transferred to long-term storage wallets or off-exchange custody solutions.

More importantly, in recent weeks, $BTC has recovered from its lows while exchange reserves have continued to decline. This is a notable development, suggesting that the supply readily available for trading is decreasing even as the market recovers.

If buying demand continues to improve while exchange supply remains low, $BTC could benefit from a supply-demand imbalance, creating favorable conditions for a longer-term upward trend.

Written by Rei Researcher