Bitcoin Exchange Deposits Hit 10-Year Low as Whales and Long-Term Holders Take Over

Key Highlights

• Bitcoin exchange deposits hits historical lows as investors turn to long term holding

• BTC is up 3.58% in 24 hours reaching $105,314

Bitcoin markets have significantly matured and BTC is no longer a speculative commodity. As market matures, investors, whales and institutions now view BTC as a store of value and safe haven in a volatile financial system.

Bitcoin Exchange Deposits Decline

According to Cryptoquant's analyst Darkfost, Bitcoin Exchange Deposits has declined significantly. From 2015 to 2021, the number of addresses depositing BTC onto exchanges was steadily rising.

At its peak, the annual average reached around 180,000. But everything changed after the 2021 bull cycle.

Bitcoin Exchange Depositing Addresses Count: This graph illustrates the correlation between Bitcoin price fluctuations and the depositing address counts on exchanges from 2016 to 2025.

Since then, the number of deposit addresses has not only dropped but it’s collapsed.

The long-term average over the past decade now sits at around 90,000, but current numbers are much lower.

Also Read: Institutions and whales dominate Bitcoin

The 30-day moving average is just 48,000, and daily figures have dipped to about 37,000. That’s a major behavioral change.

What’s Behind the Drop?

Several key factors are contributing to this trend. Firstly, the rise of Bitcoin ETFs has made it easier for people to get exposure to Bitcoin’s price without owning it directly.

Investors, especially institutions, no longer need to move Bitcoin in and out of exchanges just to trade it.

Second, retail interest in this cycle has been surprisingly low. Without a large wave of everyday users actively trading Bitcoin, there’s naturally less exchange activity.

And finally, there’s a growing shift in how Bitcoin is viewed. Many investors and even some companies are now treating it like digital gold.

Instead of trading it, they’re holding it as a long-term savings asset or even as part of their treasury reserves.

What This Means for Bitcoin’s Future

This shift toward long-term holding is the foundation of Bitcoin’s next chapter. With fewer people looking to trade and more choosing to store BTC safely off exchanges, the narrative around Bitcoin as a store of value is becoming stronger.

As more holders adopt a low-time-preference strategy, Bitcoin may be solidifying its role as a serious, long-term piece of the global financial system.