{"id":27812,"date":"2026-05-07T09:59:24","date_gmt":"2026-05-07T09:59:24","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-reserves-hit-2023-lows-but-is-the-bottom-confirmed\/"},"modified":"2026-05-07T09:59:33","modified_gmt":"2026-05-07T09:59:33","slug":"bitcoin-reserves-hit-2023-lows-but-is-the-bottom-confirmed","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-reserves-hit-2023-lows-but-is-the-bottom-confirmed\/","title":{"rendered":"Bitcoin reserves hit 2023 lows but is the bottom confirmed?"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p><strong>Bitcoin reserves on major exchanges are shrinking again, as CryptoQuant analyst Amr Taha reported sharp declines on Binance, OKX, and Gemini since February.<\/strong><\/p>\n<div id=\"cn-block-summary-block_77e6cc352e5adc15bdf89a8ca5a94092\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Binance, OKX, and Gemini saw nearly 100,000 BTC leave reserves since February, tightening supply.<\/li>\n<li>Analysts say Bitcoin must reclaim $88,880 to confirm strength and reduce overhead selling pressure.<\/li>\n<li>Whale realized prices near $66,000 to $70,600 remain key support if Bitcoin weakens again.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The three platforms have seen almost 100,000 BTC leave their reserves. At a Bitcoin price near $81,300, that equals more than $8 billion in removed supply. According to crypto.news data, Bitcoin (BTC) traded at about $81,339 at the time of writing, with a 24-hour range between $80,765 and $82,752.<\/p>\n<p>Binance reserves <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/69fc2cc1bca224364eeb1a14-Over-8-Billion-in-Bitcoin-Leaves-Binance-OKX-and-Gemini-as-Exchange-Reserves-Fal\" target=\"_blank\" rel=\"nofollow\">fell<\/a> to about 620,000 BTC on May 7, down from nearly 670,000 BTC on Feb. 21. That means about 50,000 BTC left the exchange.<\/p>\n<p>OKX reserves dropped from almost 132,000 BTC on March 2 to about 102,000 BTC. Gemini also fell from nearly 114,800 BTC on Feb. 4 to around 95,000 BTC.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Lower supply meets cautious demand<\/strong><\/h2>\n<p>Exchange reserves often show how much Bitcoin may be ready for trading or selling. When balances fall across major exchanges together, the market can face lower available supply.<\/p>\n<p>Crypto.news recently reported a similar supply trend. Binance reserves had already fallen as spot Bitcoin ETFs added 25,600 BTC, creating a tighter market backdrop while Bitcoin traded near $75,000.<\/p>\n<p>At the same time, the market has not moved in a straight line. The report also noted that whales sent coins to exchanges during the rebound, while long-term holders added about 354,000 BTC.<\/p>\n<p>This split keeps the setup mixed. Long-term wallets appear to remove supply, while some larger holders still use rallies to reduce exposure.<\/p>\n<h2 class=\"wp-block-heading\">Analysts watch the $88K ceiling<\/h2>\n<p>CryptoQuant analyst IT Tech <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/69fbad4938c2383864e0f892-The-bottom-is-in-Everyones-saying-it\" target=\"_blank\" rel=\"nofollow\">said<\/a> market calls that \u201cThe bottom is in\u201d need price confirmation. He pointed to the three-month to six-month realized price near $88,880 as the first overhead supply zone.<\/p>\n<p>That level marks the break-even area for newer buyers. If Bitcoin rises into that band, some holders may sell to exit flat.<\/p>\n<p>The analyst also flagged higher realized price bands near $93,450 and $111,850. These levels show where older underwater cohorts could add selling pressure if BTC recovers.<\/p>\n<p>Therefore, Bitcoin may need to reclaim and hold $88,880 before analysts treat the bottom claim as stronger data. A quick move above the level may not be enough if sellers regain control.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Whale support remains in focus<\/strong><\/h2>\n<p>CryptoQuant analyst CryptoOnchain <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/69fc38c374e3a32a7dd4c0b4-Whale-Realized-Prices-Acted-as-Key-Support-Did-the-Market-Find-Its-Bottom\" target=\"_blank\" rel=\"nofollow\">said<\/a> whale realized prices between $66,000 and $70,600 have acted as a support zone. These levels track whales active in the past 1 to 30 days.<\/p>\n<p>The recent rebound from that area suggests large holders defended their break-even range. If Bitcoin stays above it, the market may keep a local bottom structure.<\/p>\n<p>As Crypto.news reported, Bitcoin held above $70,000 in March as analysts pointed to cycle reset signs and steady Binance outflows. One CryptoQuant reading showed about $55 million in BTC leaving Binance daily on average.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin reserves on major exchanges are shrinking again, as CryptoQuant analyst Amr Taha reported sharp declines on Binance, OKX, and Gemini since February. Summary Binance, OKX, and Gemini saw nearly&hellip;<\/p>\n","protected":false},"author":1,"featured_media":552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=27812"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27812\/revisions"}],"predecessor-version":[{"id":27813,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27812\/revisions\/27813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/552"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=27812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=27812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=27812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}