Bitcoin exchange reserves fell by 668K BTC since November 2024, now standing at 2.43M BTC across centralized platforms.
A full reserve buyout at current prices would cost over $253 billion, showing there is still substantial liquidity in the system.
Bitcoin's market cap holds at $2.1 trillion, with a daily volume of $39.69B, highlighting continued strong market activity.
Bitcoin’s on-chain data shows that CEX reserves have decreased by 668,000 BTC since November 2024. At the same time, Bitcoin is still trading high, currently worth $105,679.88 and having increased 1.27% in the past day. Data shows that, despite a decrease, the reserve is not close to being used up.
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Just before June 2025, the group had approximately 2,432,989 BTC in its exchange reserves. This drop is much bigger than the previous month’s figure of 3 million BTC. People have been withdrawing coins from exchanges for months which is what has caused the drop. This measure is often linked with shifts in the market, for example, rising self-management of assets or long-term investment.
Market Cap Holds at $2.1 Trillion as Liquidity Trends Shift
Bitcoin’s market capitalization is currently positioned at $2.1 trillion, registering a 1.29% gain. Alongside this, the 24-hour trading volume has reached $39.69 billion, reflecting an 11.64% rise. Despite this activity, exchange balances continue to drop. This reduction appears to mirror declining liquidity levels on trading platforms.
Source: CoinMarketCap
Further analysis suggests a decrease in the ratio of exchange reserves compared to total market participation. However, traders still have access to a sizable amount of BTC on platforms. With over 2.4 million BTC still listed across exchanges, the system retains sufficient depth for substantial trading flows.
Notably, open interest metrics remain consistent, showing no immediate liquidity strain despite ongoing withdrawals from CEX platforms.
Entire Reserve Buyout Would Require $253 Billion at Current Market Price
At the current price of approximately $105,679.88 per BTC, acquiring the entire CEX reserve would require $253,427,433,207. This figure underscores the substantial scale of liquidity still available despite the notable drawdown. The buyout value provides insight into the relative strength of Bitcoin’s exchange-linked supply.
Additionally, the reserves' movement may affect pricing over time, though large-scale liquidity remains intact. Reserves peaked near $3.091 million BTC before descending to the current $2.433 million level. This marks the lowest point in recent months but not an exhaustion level.
CEX platforms still hold more than 2 million BTC in total, offering accessible supply for institutional and retail players alike.
