Bitcoin

Third biggest outflow of Bitcoin from exchanges this year – driven by whales

03/23/2023
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Quick Take

  • Yesterday was volatile for Bitcoin — hitting $26,500 and $28,600 in one day.
  • The federal reserve raised 25bps, plus a conference with Powell that sent risk assets lower for the day.
  • However, we understand now that liquidations were the main driver behind the drop in price for Bitcoin.
  • While spot Bitcoin was bought from exchanges, roughly $360 million was the highest amount in USD this year.
  • The third most amount of Bitcoin in 2023 — driven by whales of outflows greater than $1 million
Net Transfer Volume BTC : (Source: Glassnode)
Net Transfer Volume BTC : (Source: Glassnode)
Net Transfer Volume USD : (Source: Glassnode)
Net Transfer Volume USD : (Source: Glassnode)

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Source: https://cryptoslate.com/insights/third-biggest-outflow-of-bitcoin-from-exchanges-this-year-driven-by-whales/