​​Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Dem | MyBitcoin Cryptocurrency News

​​Bitcoin Held by Exchanges Drops to 2019 Bull-Run Levels, Demand Rising 

Bitcoin balances on major exchanges drop to levels not seen since last summer’s bull run as demand and BTC price are on the rise.

As July comes to a close, the amount of Bitcoin (BTC) held by major cryptocurrency exchanges has reached its lowest level since late May 2019. At that time, Bitcoin’s price was around $8,000 before continuing toward its 2019 high of $12,967 on July 11, 2019. 

Roughly 10% of Bitcoin held by exchanges
The Bitcoin balance held by major exchanges has been dropping significantly since mid-March 2020 following the Black Thursday crash on March 12 and subsequent recovery. 
There are 2.64 million BTC collectively held on exchanges as of July 29, according to data from Glassnode, a market and on-chain analytics resource. Meanwhile, Bitcoin’s price continues to climb and recently hitting a yearly high of $11,400