Bitcoin’s circulating supply domiciled off exchanges currently sits at 18.19M tokens, the largest amount ever witnessed. The current data is the product of a growing trend of BTC withdrawals from centralized exchanges, which surged drastically following the FTX collapse of last month. In contrast, only 1.16M BTC tokens are currently situated in exchanges.

According to data from Santiment, BTC supply off exchanges has persistently reached all-time highs in the past few months, with the current supply of 18.19M tokens being the latest ATH. 

On the contrary, BTC supply on exchanges has been persistently declining, as the latest value of 1.16M represents its lowest amount since November 2018. This underscores a mass withdrawal of BTC off exchanges, which picked up following the FTX crash, as investors’ confidence in centralized exchanges declined. Investors are now leaning towards self-custody.