Binance Research: Four On-Chain Signals Point to Tightening BTC Supply and Fading Sell Pressure!

Binance Research has flagged four Bitcoin on-chain indicators that collectively suggest available sell-side supply is contracting. Nearly 60% of all BTC in circulation has not moved in over a year — a sign that long-term holders are sitting tight rather than distributing into the market.

Exchange balances have dropped from 17.6% of supply near the COVID-era peak to 15.0% today, implying roughly 500,000 BTC have been withdrawn from exchanges and moved into self-custody or cold storage. That reduction in immediately liquid supply is a structural tailwind for price when demand picks up.

Two behavioural metrics round out the picture. The Spent Lifespan Ratio Value (SLRV) remains near historical lows, indicating that speculation is subdued and older coins are not being rotated into profit-taking. Meanwhile, BTC's Short-Term Holder MVRV has climbed back above 1.0 after spending much of the…