Bitcoin Supply on Exchanges Hits 5-Year Low Amid Surging Institutional Demand

Bitcoin Supply on Exchanges Hits Five-Year Low Amid Institutional Accumulation

According to CryptoSlate, the supply of Bitcoin held on centralized exchanges has dropped to its lowest level since 2019, with only about 2.5 million BTC remaining on exchanges as of late April 2025. This marks a reduction of 500,000 coins since the end of 2024. The trend, which began in early 2023 when reserves stood at around 3.2 million BTC, has accelerated due to increased institutional involvement. Notably, Fidelity recently acquired $253 million worth of BTC, contributing to the outflow from exchanges.

Publicly traded companies, led by Strategy, have withdrawn over 425,000 BTC from exchanges since November 2024, and listed firms have acquired nearly 350,000 BTC. A recent Coinbase survey indicates that more than three-quarters of institutional investors plan to increase their digital asset allocations in 2025. On-chain analyst Willy Woo commented, “BTC fundamentals have turned bullish, not a bad setup to break all time highs.” The reduced supply on exchanges is seen as a bullish indicator, but it also raises the potential for increased price volatility if demand surges suddenly.

Metric	Value
BTC on exchanges (April 2025)	2.5 million
BTC withdrawn since end of 2024	500,000
Fidelity BTC purchase	$253 million
BTC withdrawn by public companies (since Nov 2024)	425,000
BTC acquired by listed firms	350,000

“We have never seen this before. We have never had a global Bitcoin supply crunch. Bullish.” — Dennis Porter

Bitcoin supply on exchanges at lowest since 2019
Institutional accumulation driving outflows
Potential for supply shock and increased price volatility

Summary: The ongoing shift toward self-custody and institutional accumulation has driven Bitcoin reserves on exchanges to a five-year low, setting the stage for potential supply shocks and price volatility. (Source: CryptoSlate)

KuCoin Expands into Thailand’s Growing Crypto Market

The Paypers reports that KuCoin has launched a new digital token and cryptocurrency exchange in Thailand, operated by ERX Company Limited. The platform, KuCoin Thailand, is licensed by the Securities and Exchange Commission (SEC) of Thailand, ensuring compliance with local regulations. Existing ERX users have been migrated to the new platform, which is available on both Android and iOS.

Thailand’s cryptocurrency market is projected to reach a revenue of approximately USD 488.9 million in 2025, with the number of users expected to hit 7.84 million. KuCoin joins eight other SEC-licensed exchanges in the country, including WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, GMO-Z.com Cryptonomics, Upbit Exchange, Bitkub Online, and Orbix Trade. KuCoin has also applied for a license in Turkey and recently introduced KuCard, supporting multiple virtual and physical cards with cashback rewards.

KuCoin Thailand is SEC-licensed and operational
Market revenue forecast: USD 488.9 million (2025)
Projected users: 7.84 million
KuCoin joins eight other licensed exchanges in Thailand

Summary: KuCoin’s entry into Thailand’s crypto market aligns with the region’s rapid growth, regulatory compliance, and increasing user base. (Source: The Paypers)

Massive Bitcoin Outflows from Major Exchanges Signal Institutional Accumulation

TradingView highlights that over 35,000 BTC have been withdrawn from Coinbase and Binance in recent days. Specifically, 27,750 BTC (worth $2.63 billion) left Binance on April 25, marking the third-largest net outflow in the exchange’s history. Additionally, more than 7,000 BTC (worth approximately $66.5 million) were withdrawn from Coinbase. Analysts suggest these outflows indicate strong institutional activity and could signal a bullish sentiment.

At the time of reporting, Bitcoin’s price was just below $95,200, reflecting an almost 2% increase in the past 24 hours. The continuous outflows, if matched by increased spot demand or ETF inflows, could lead to a supply squeeze and potentially drive prices higher.

Exchange	BTC Withdrawn	Value	Date
Binance	27,750	$2.63 billion	April 25
Coinbase	7,000+	$66.5 million	Recent days

Significant BTC outflows from major exchanges
Potential indicator of institutional accumulation
BTC price near $95,200 (+2% in 24h)

Summary: Large-scale Bitcoin withdrawals from Binance and Coinbase suggest growing institutional confidence and could foreshadow a supply squeeze. (Source: TradingView)

Bitget Pursues Legal Action Over $20 Million VOXEL Trading Manipulation

The Block reports that crypto exchange Bitget is taking legal action against eight accounts suspected of manipulating the VOXEL market, resulting in illicit profits of $20 million. The incident occurred on April 20, when the price of VOXEL, the native token of the Polygon-based game Voxie Tactics, surged by more than 500% compared to two days prior. Bitget responded by rolling back trades made during the affected period and promised to return any recovered funds to users via an airdrop.

Bitget’s Head of Asia, Xie Jiayin, stated that lawyer’s letters would be sent to the owners of the eight accounts, which are believed to have acted as a “professional arbitrage” group. The platform is still investigating the incident and plans to release a full report. This exploit is part of a recent trend of hacks and exploits in the crypto sector, including a $5.8 million exploit on Solana DeFi platform Loopscale and a $49 million loss from stablecoin neobank Infini.

Bitget targets eight accounts for $20 million VOXEL manipulation
Incident involved a 500% price surge in VOXEL
Recovered funds to be returned to users via airdrop

Summary: Bitget is taking legal steps to address a $20 million market manipulation incident involving the VOXEL token, with a commitment to return recovered funds to affected users. (Source: The Block)

Over 40,000 Bitcoin Withdrawn from Exchanges in a Week: Accumulation Trend Strengthens

Bitcoinist.com reports that more than 40,000 BTC have been withdrawn from exchanges over the past week, indicating a strong accumulation trend. This movement is seen as a sign that investors are increasingly opting for self-custody, which reduces the available supply on trading platforms and historically supports higher prices. Bitcoin is currently trading at $93,900, with bulls maintaining short-term control after a rally above the $90,000 mark.

Analysts highlight that holding above the $88,700 support level, which aligns with the 200-day moving average, is crucial for sustaining the bullish structure. A drop below this level could trigger a correction toward $84,000, but the overall outlook remains positive if key supports are defended.

Metric	Value
BTC withdrawn from exchanges (week)	40,000+
Current BTC price	$93,900
Key support level	$88,700
Next support (if breached)	$84,000

Strong accumulation trend with 40,000+ BTC withdrawn
Bulls in control above $90,000
Key support at $88,700

Summary: The withdrawal of over 40,000 BTC from exchanges in a week underscores a robust accumulation trend, with bulls aiming to defend critical support levels. (Source: Bitcoinist.com)

Bitget Issues Legal Letters Over VOXEL Futures Price Manipulation

Cointelegraph details that Bitget is issuing legal letters to eight account holders accused of manipulating the price of VOXEL perpetual futures contracts, allegedly pocketing $20 million. The incident, which occurred on April 20, saw the VOXEL/USDT trading pair reach over $12 billion in volume, far surpassing Binance’s metrics for the same contract. Bitget paused the accounts, rolled back irregular trades, and assured users that funds remained safe.

Bitget’s head of Chinese operations, Xie Jiayin, stated that all recovered funds would be distributed to affected users via airdrop. The platform is still investigating the cause, with some users suggesting a bug in a market maker bot may have contributed to the excessive volume. Bitget CEO Gracy Chen emphasized that the trades were between individual market participants, not the platform itself.

Eight accounts accused of $20 million VOXEL manipulation
VOXEL/USDT volume exceeded $12 billion
Recovered funds to be airdropped to affected users

Summary: Bitget is taking legal action against eight accounts for alleged VOXEL futures price manipulation, with plans to return recovered funds to users. (Source: Cointelegraph)

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