Bitcoin price today slumped by over 10% to record a new weekly low of $32,279. The flash crash was attributed to rumors about the FBI allegedly hacking private keys to the Bitcoin wallet associated with Colonial Pipeline ransomware hackers, raising security concerns. However, the on-chain metrics are still signaling bullish despite the recent price slump.
The exchange outflow of BTC recorded a new yearly high yesterday as 22.5K bitcoin were taken off the exchanges. Such a high amount of Bitcoin being moved away from the active market indicate that traders are anticipating a market rebound after more than a month-long bearish sentiment. The price of the top cryptocurrency fell to the sub $30k level in the second week of May on a day when the crypto market lost $500 billion of its market cap. The price of BTC has been consolidating under $40K since then.
Apart from exchange outflows, the Bitcoin network’s mining hashrate has returned to the top despite the recent Chinese crackdown and
Źródło: https://coingape.com/bitcoin-registers-highest-single-day-exchange-outflow-this-year/
