Friday saw the sixth biggest outflow of Bitcoin from exchanges YTD

Institutional investors continue to scoop up Bitcoin, further driving exchange outflows.

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

  • May 5 saw the sixth biggest outflow of Bitcoin from exchanges since the start of the year.
  • Roughly $240 million worth of Bitcoin was driven primarily by large whales, denoted by the red and orange colors.
  • This is supported by the accumulation trend score by cohort, which denotes that whales that hold over 10,000 Bitcoin or more continue accumulating and have been for over a month.
  • While all other cohorts are still in a state of distribution.
Accumulation trend score by cohort: (Source: Glassnode)
Accumulation trend score by cohort: (Source: Glassnode)
Net Volume: (Source: Glassnode)
Net Volume: (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)
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Market Cap $1.59T
24H Volume $33.95B