Onchain Highlight
DEFINITION: Exchange Net Positon Change by Glassnode is the 30-day change in the supply held in exchange wallets.
Bitcoin’s exchange net position change has been experiencing notable fluctuations, influenced by various market factors. According to Glassnode data, the significant outflows from Bitcoin exchanges in 2023 have reversed in recent months. The trend of net withdrawals that dominated the market has shifted towards net inflows, indicating a change in investor behavior as more Bitcoin is being moved back onto exchanges.
Exchange Net Position Change, YTD: (Source: Glassnode)
This shift in exchange net position is mirrored by activities surrounding Bitcoin ETFs. BlackRock’s IBIT ETF notably attracted substantial inflows, contributing significantly to the overall increase in Bitcoin held on exchanges. On May 21, BlackRock’s ETF saw an inflow of $290 million, highlighting the growing institutional interest in Bitcoin.
Simultaneously, Grayscale’s Bitcoin Tru
We współpracy z: https://cryptoslate.com/insights/consistent-bitcoin-exodus-from-exchanges-highlights-investor-confidence/
