Discover the intriguing shift in Bitcoin exchange dynamics as we explore the recent trend of more Bitcoin being withdrawn than deposited. While tracking Bitcoin's balance on exchanges is crucial, understanding the volumes of deposits and withdrawals provides unique insights into investor behavior and market liquidity. For the first time ever, daily withdrawals have outpaced deposits since the beginning of June, suggesting a major reversal from the historical trend... But what does this mean for the market and potential price changes? Unlock the full analysis with Alpha...
Longest streak of Bitcoin withdrawals surpassing deposits signals market shift Longest streak of Bitcoin withdrawals surpassing deposits signals market shift
June 27 marks the longest streak ever recorded of Bitcoin withdrawals from exchanges outpacing deposits to exchanges.
2 min read
Updated: Jun. 27, 2023 at 8:47 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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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.
