Glassnode data shows that the value of the on-exchanges asset has fallen to the lowest level in the past three years. This suggests that the assets are being actively acquired by investors.

On-chain data analysis platform showed that Bitcoin’s balance as of October 2021 on the exchanges was 2.46 Million BTC, down from 2.47 Million BTC in Q2 2021.

If you look at the past records, Bitcoin balance tends decrease when there is a positive run. However, it can rise when Bitcoin investors load up on exchanges. This could lead to increased selling.

In December 2018, the last time Bitcoin exchange balances had been this low, and the market then stagnated for the next few months. The market eventually experienced another huge Bull Run, which took it to an all-time record.

The supply of on-exchanges remains at an all time low of 14.4 millions ETH, which is the same as in 2012.

BTC/ETH has risen dramatically since September 2021. They have climbed from $42,000 to $2,900 and then increased to more than $60,000 and $4,000.

The whole crypto market is known for rising in short bursts. While it is impossible to know for certain, indicators such as the Bitcoin supply on exchanges can give an indication that there could be a period of positive growth.

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