Third biggest outflow of Bitcoin from exchanges this year – driven by whales Quick Take
- Yesterday was volatile for Bitcoin — hitting $26,500 and $28,600 in one day.
- The federal reserve raised 25bps, plus a conference with Powell that sent risk assets lower for the day.
- However, we understand now that liquidations were the main driver behind the drop in price for Bitcoin.
- While spot Bitcoin was bought from exchanges, roughly $360 million was the highest amount in USD this year.
- The third most amount of Bitcoin in 2023 — driven by whales of outflows greater than $1 million
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.
