Bitcoin perps most negative since FTX collapse as BTC continues to be withdrawn from exchanges

Over 15k Bitcoin left exchanges yesterday, while perps are the most negative since FTX collapse

James Van Straten
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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.
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Quick Take

  • The second most amount of Bitcoin withdrawn from exchanges this year at roughly 15,000 BTC.
  • The perpetual funding rate is extremely negative, indicating Bitcoin is being shorted aggressively by record amounts since the FTX collapse.
  • Investors are creating a “stablecoin,” buying Bitcoin and shorting cross 1x inverse to achieve a synthetic USD. 
Futures Perpetual Funding rate: (Source: Glassnode)
Futures Perpetual Funding rate: (Source: Glassnode)
Exchange Netflow: (Source: Glassnode)
Exchange Netflow: (Source: Glassnode)
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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.

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Bitcoin BTC (24h)
$79,201.83 -1.29%
Market Cap $1.59T
24H Volume $33.08B