![Bitcoin’s surge past $35,000 sparks massive $370M inflow to exchanges](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/11/all.png&w=70&h=37&q=75)
Quick Take
On Nov. 7, Bitcoin broke above $35,000, triggering substantial movement within crypto exchanges. Data from Glassnode showed it was one of the largest single-day inflows this year, with exchanges witnessing a total of $370 million in inflows. This indicates a significant spike in investors willing to trade or sell their Bitcoin holdings at this price point.
![Exchange Netflow - All Exchanges: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/all.png)
Further analysis showed some exchanges saw more activity than others. Bitfinex recorded a substantial inflow of almost $160 million, the majority of it coming from a single large holder, or ‘whale’.
![Exchange Netflow - Bitfinex: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/BIT-1.png)
Bithumb and Crypto.com also reported inflows of $40 million and $60 million, respectively, the latter again coming from a single large whale.
![Exchange Netflow - Crypto.com: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/crypto.png)
The US-based exchange Coinbase saw a balanced movement with roughly $80 million each in inflows and outflows.
Interestingly, Poloniex saw an inflow of $20 million, marking its highest since May 22.
![Exchange Netflow: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/11/poloneix.png)
Kraken experienced a balanced $60 million in both inflows and outflows. Despite the considerable outflows nearing $200 million the day was characterized by a net positive inflow.
![](https://cryptoslate.com/wp-content/uploads/2023/11/kraken.png)