Bitcoin bulls rejoice: YTD high in sight – further $200M BTC withdrawn from exchanges

Bullish sentiment gains momentum as Bitcoin holders withdraw 34,000 coins from exchanges over a nine day period.

James Van Straten
Author
James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Make preferred on Google logo

Quick Take

  • Yesterday, $200 million worth of Bitcoin was withdrawn from exchanges.
  • This adds to the continuation of Bitcoin being taken off exchanges.
  • Roughly 34,000 Bitcoin have been taken off exchanges in the past nine days.
  • There was also a short squeeze — as the perpetual funding rate was negative.
  • Premium on puts started to go higher, according to Options 25 Delta Skew ( 1 Week).
Netflow: (Source: Glassnode)
Netflow: (Source: Glassnode)
Advertise with CryptoSlate
Mentioned in this article
Bitcoin
Analyst View profile
James Van Straten
James Van Straten
Former Lead Analyst CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

Advertise with CryptoSlate
Context

Related coverage

Explore related reporting by asset, place, or topic.

AI Usage Disclosure

CryptoSlate may use AI tools to support research, editing, and production workflows. Published articles remain editorially reviewed by our team. Read our full AI usage disclaimer.

Disclaimer

Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. For more information, see our company disclaimers.

Bitcoin BTC (24h)
$79,371.23 -1.54%
Market Cap $1.59T
24H Volume $33.48B