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Third consecutive Friday of significant outflows for Bitcoin Third consecutive Friday of significant outflows for Bitcoin

Third consecutive Friday of significant outflows for Bitcoin

Friday, Jan. 27 saw the third biggest withdrawal of Bitcoin from exchanges year-to-date.

Quick Take

  • As withdrawals continue to occur in 2023, a further $150 million of spot Bitcoin left exchanges on Jan. 27.
  • The withdrawals are the third biggest of the year, and this is the third consecutive time that a large order has been placed on a Friday.
  • The majority of the Jan. 27 withdrawals took place on crypto exchange Bithumb.

    Outflows vs Inflow: (Source: Glassnode)
    Outflows vs Inflow: (Source: Glassnode)