Exchange Supply %
Percentage of total supply held on centralized exchanges.
Exchange Supply %: structural HODL indicator. Falling = withdrawn to cold storage (HODL). Rising = ready to sell. Zones: <8% extreme HODL (bullish), 8-12% normal, >15% selling pressure. BTC fell 17% (2018) → 11% (2025).
In plain words
Percentage of total supply sitting on centralized exchanges (ready to sell). Has been falling structurally for years, as more people hold BTC in private wallets (strong hands). Low levels historically preceded strong bull runs.
Example
BTC 2018: 17% on exchanges. 2024: 11%. ETH 2024: 8.5% (staking effect). USDC: 60-70% (liquidity).
Also known as: exchange supply, exchange supply percentage