Addresses holding over 1 BTC see sharp drop in exchange deposits

Deposits to exchanges from addresses holding at least one Bitcoin have decreased sharply, according to an analysis by on-chain analyst Darkfost. He noted that the current monthly average BTC inflow to Binance is approximately 6,000 BTC, a level last seen in 2018 and a significant drop from 15,400 BTC in 2021. Furthermore, transfers of one BTC or more to all exchanges have fallen to around 27,500 BTC, about one-third of the 80,000 BTC peak recorded in 2018. Darkfost attributed this trend to a combination of factors: the rising price of Bitcoin making it more difficult to accumulate whole units, the 2024 launch of spot ETFs providing alternative exposure without direct ownership, and a growing proportion of investors adopting long-term holding strategies.