Bitcoin Exchange Reserves Remain 1.7% Below September Levels

Bitcoin exchange reserves remain below mid-September levels, while whale holdings have stayed above 3 million BTC through an early October price decline, offering context for the debate over Bitcoin’s typical October strength. The amount of Bitcoin (BTC) held on exchanges fell from 2.726 million BTC on Sept. 20 to 2.68 million as of Tuesday, a 1.7% decrease. Reserves rose modestly over the past week but remained below the September figure. Whale holdings also remained above 3 million BTC as Bitcoin’s price fell from $87,000 on Oct. 2 to near $80,000 on Oct. 8.