CryptoQuant: Bitcoin exchange reserves fall 1.7% since Sept. 20 as demand nears neutral
Bitcoin held on exchanges dropped from 2.726 million to 2.68 million BTC, and CryptoQuant describes on-chain conditions as cautious optimism after the slide toward $80,000.
BITCOINPRICE ANALYSIS
Daniel Hartley
10/14/20261 min read
Bitcoin reserves on exchanges fell from 2.726 million BTC on September 20 to 2.68 million BTC by October 13, a 1.7% decrease, according to CryptoQuant data reported by Cointelegraph on October 14. The analytics firm described on-chain conditions as cautious optimism and said an October bottom for BTC is possible.
The data follows a drop in BTC/USD from $87,000 on October 2 to near $80,000 on October 8. CryptoQuant's apparent demand metric has been negative throughout 2026, apart from a short spell of positive 30-day readings in the second half of August, and has since recovered to near-neutral levels. Large holders still control more than 3 million BTC, and their urge to reduce exposure has persisted.
Cointelegraph listed macro headwinds including 24-year highs in US bond yields, rising oil prices and cooling inflows into exchange-traded products. CryptoQuant contributor XWIN Research Japan said a bottom would need sustained ETF inflows, stronger US spot buying and a continued recovery in demand before it could be confirmed.
Source: Cointelegraph, CryptoQuant.