Exchange reserve valued in US dollars: BTC held on exchange addresses multiplied by the BTC price of the day.

Calculated by BGeometrics from our own Bitcoin full node, using a set of addresses labelled as belonging to exchanges. Inflow is the BTC received by those addresses during the day; outflow is the BTC spent from them.

Mostly driven by the price; to see whether coins are actually entering or leaving exchanges use the reserve in BTC.

Address labelling never covers every exchange wallet, so absolute levels are an estimate; trends and large moves are more reliable than the exact figure.

API (subscription): Reserve USD