What is Bitcoin exchange reserve?
It sums the Bitcoin balance across the wallets of tracked exchanges into one reserve level. Coins on exchanges are the supply most readily available for sale, so the reserve is often read as sell-side availability.
How it is calculated
The page follows the aggregate on-chain balance held by tracked exchange wallets as a daily series. Coverage depends on which exchange wallets are identified, so the trend is more robust than the absolute level.
How to read it
A falling reserve is often read as coins moving to self-custody, reducing readily sellable supply — a supply-squeeze narrative. A rising reserve suggests coins moving onto exchanges, which can precede selling. It is a slow supply-location gauge, best paired with netflow.
What it does not tell you
Reserve depends on exchange-wallet labelling and can be distorted by custody or internal transfers. It shows where coins sit, not intent. Live values are in the authenticated app.