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Third biggest outflow of Bitcoin from exchanges this year – driven by whales
Roughly $350 million Bitcoin was withdrawn from exchanges yesterday, in USD terms this was the most this year.
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
Market Cap $1.57T
24H Volume $38.12B
