Bitcoin Stockpiles On Exchanges Hit Lowest Point Since 2019
Long-term holders now control roughly 14.5 million BTC — coins that have not moved in over five months and show little sign of heading back to market anytime soon.
Price Holds Steady After February Drop
Bitcoin spent much of February under pressure, sliding to the low $60,000s before recovering. The coin has since climbed back and been trading in a band between $67,000 and $71,000, hovering near $69,000 to $70,000 as of this report.
A break above $72,000 could trigger forced buybacks from traders betting on lower prices, which would add upward momentum.
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Miners are watching closely. Their breakeven cost on electricity alone sits near $64,000 to $65,000, meaning a sustained drop below that level could force some operators to sell reserves to cover costs.
Daily trading volume has remained above $50 billion, which analysts read as steady participation rather than speculative frenzy.
Whether the tightening supply eventually pulls prices higher depends on whether fresh demand arrives fast enough to match conviction among current holders — most of whom, based on their behavior, appear in no rush to sell.
Featured image from Unsplash, chart from TradingView
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