Bitcoin reserves on exchanges plunge to a record low of 2.4M BTC as prices surge past $106K, signaling strong holding sentiment.
Whale wallets added 250K BTC since mid-2024, driving a supply crunch as institutional demand aligns with Bitcoin's bull rally.
Bitcoin hashrate levels are at 939.1 EH/s in June 2025, as mining difficulty stands at 126.41T, with the market mood still bullish in light of geopolitical tensions.
Bitcoin reserves in centralized exchanges dipped to the lowest levels since mid-2024 even as price action moved higher above $106,000. The supply flows are unfolding as geopolitical tensions between Israel and Iran continue to unfold with fresh waves of military attacks.
Exchange Reserves Plummet as Bitcoin Price Increases
The chart "Bitcoin: Exchange Reserve – All Exchanges" traces a steep and persistent depletion of BTC reserves held on exchanges. The reserves declined from an all-time high of over 3.2 million BTC in July 2024 to around 2.4 million BTC in June 2025, a net decline of over 800,000 BTC.
https://twitter.com/rovercrc/status/1933948048260178075
The declining trend has been worse in Q2 of 2025, with the current data showing reserves falling below 2.5 million BTC. The price of Bitcoin has increased from below $60,000 to all-time highs of over $110,000 during this period, indicating both a decrease in short-term selling pressure and an increase in investor demand.
There will soon be a supply shock because of the inverse link between declining supply and rising prices. As there are fewer coins on exchanges, investor behavior suggests conviction in holding, especially with macro uncertainty remaining elevated, given the Iran-Israel war, which continues to unsettle global markets.
Whale Holdings Confirms the Bullish Narrative
Whale wallets have persisted in adding BTC exposure throughout this cycle. According to a Coinvo analysis, Bitcoin addresses with substantial holdings have increased their overall holdings from 3.2 million to over 3.45 million BTC as of May 2025, adding over 250,000 BTC since June 2024.
Concurrent with Bitcoin's surge from roughly $60,000 to $110,000, this accumulation was made, suggesting that institutional and high-net-worth investors made coordinated purchases. Whale activity increased in Q4 2024 and continued to be high in Q2 2025, according to the research.
Month-over-month holding percentage changes were negligible compared to the overall trend, which strongly aligns with Bitcoin's bullish paradigm. Exchange outflows alongside rising whale inventories validate a tightening supply narrative with enormous upside pressure.
Network Health Supports Market Strength
Meanwhile, network-level indicators signal growing strength. In a post by CryptoGoos, the weekly average hashrate of Bitcoin reached 939.1 EH/s in June 2025, from 650 EH/s in July 2024. Bitcoin mining difficulty stands at 126.41T, reflecting heavy competition and gigantic miner activity.
Both these indicators have consistently increased since the latter half of 2024 and well into 2025, following the price hike of Bitcoin. Periodic spikes in hashrate to over 1,000 EH/s and steady increases in difficulty are indicative of increasing confidence among miners for profitable times.
Heightened hashrate and mining difficulty are often accompanied by positive sentiment as miners ramp up operations when long-term profitability seems promising. The trend also indicates market strength despite regional tensions between Iran and Israel straining overall macroeconomic stability.
Bitcoin Price Action Defies Geopolitical Turmoil
Despite global turmoil, Bitcoin continues to amaze everyone. On June 15, 2025, BTC is trading at $106,026.31, up by 0.64% in value from the last day, as military hostilities in the Middle East continue unabated. The Iran-Israel war has been ongoing, and both sides have conducted concerted missile strikes on key infrastructure and border regions.
Bitcoin's decoupling is a sign of a change in investor opinion, as the asset is now viewed as an increasingly geopolitical hedge, whilst the traditional markets have mirrored volatility around similar tensions. This response might be a sign of a larger macro theory that frames Bitcoin as a long-term asset store in times of uncertainty.
The post Bitcoin Hits $106K as Exchange Reserves Crash, Whales Accumulate 250K BTC, Network Strengthens, and Iran-Israel War Escalates appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
