Bitcoin (BTC) retraced below the $100,000 psychological level, bringing uncertainty for some and a buying opportunity for others. As a display of the latter, exchanges registered over $2 billion in BTC outflow from their accounts in a week – the largest Bitcoin outflow this year.
Finbold retrieved data from CoinGlass on December 24, looking at the exchange’s spot markets over the last seven weeks. From December 15 to today, exchanges saw a $2.12 billion outflow in BTC, which is currently trading at $95,177.
This marks the largest weekly spot outflow year-to-date in dollar value, according to CoinGlass, surpassing May’s $2.03 billion. Notably, the previously largest 2024 outflow triggered a Bitcoin price crash from $58,240 down to $31,778.
Historically, significant spot outflows happen during bull rallies, fueled by massive retail demand, buying and withdrawing the BTC to self-custody. However, this increased demand by retail investors could usually signal a price top
We współpracy z: https://finbold.com/bitcoin-sees-2024s-largest-weekly-outflow-from-exchanges-what-does-it-mean/
