Bitcoin loses $24k – as 15k coins go back onto exchanges, profits get realized Quick Take
- Bitcoin broke below $24,000 on Feb. 17, as coins returned to exchanges while short-term holders realized large amounts of profit.
- Over 15,000 BTC went back onto exchanges from a range of cohorts — from small to big players.
- Year-to-date (YTD), only 2,000 BTC have been withdrawn from exchanges.
- Net realized profit was seen at almost $400 million, the highest amount just before the collapse of FTX back in November 2022.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.