Bitcoin’s price may be poised for an upward movement as the supply of the leading cryptocurrency on exchanges diminishes. A researcher noted in a Monday report that the amount of bitcoin held on exchanges has decreased to 2.67 million from 2.8 million since February. The price of bitcoin was recently $83,485, remaining stable over a 24-hour period but increasing by 8% over the past 30 days following its most successful quarter in years. Its surge in August and September has prompted several analysts to assert that the bear market has concluded. “If buying demand continues to improve while exchange supply remains low, BTC could benefit from a supply-demand imbalance, creating favorable conditions for a longer-term upward trend,” the report by on-chain researcher Rei Researcher read.
It added: “More importantly, in recent weeks, bitcoin has recovered from its lows while exchange reserves have continued to decline. This is a notable development, suggesting that the supply readily available for trading is decreasing even as the market recovers.” The report further noted that it was possible investors were removing bitcoin from exchanges to allocate it into cold storage solutions. Bitcoin’s price was predominantly trading below $65,000 during the initial half of 2026. The coin spent the majority of this year in a bear market after reaching an all-time high of $126,080 in October 2025.
However, a significant shift occurred in August. News that the U.S. Treasury would double the size of its liquidity-support buyback operations has led to a depreciation of the dollar while simultaneously bolstering bitcoin and other non-yield bearing assets. Currently, the phenomenon known as the debasement trade – in which investors allocate capital to an asset as a safeguard against the depreciation of a currency – is experiencing renewed interest. Analysts indicate that Bitcoin is reaping advantages from the trade, similar to its performance in 2024 and 2025. Bitcoin’s price remains over 30% lower than its all-time high.
