Bitcoin Held on Trading Platforms Continues to Drop Lower, Over 68% of the To...
Amid the market carnage tied to Terra’s recent fallout, bitcoin sent to exchanges saw a brief spike on May 7, jumping more than 2% higher from 2.481 million to 2.532 million bitcoin. Despite the recent increase of bitcoin sent to trading platforms, the number of bitcoins on exchanges today remains lower than ever before. Bitcoin Continues to be Taken Off Exchanges Bitcoin (BTC) continues to be removed from centralized cryptocurrency exchanges as the number is much lower than the lows that were recorded on November 15, 2020. 248 days earlier, on March 12, 2020, the day after the....
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While the price of bitcoin is more than 40% lower than it was 90 days ago on March 29, the number of bitcoin held on exchanges has also been reduced. Last year on the same day in June, 2.79 million bitcoin was retained on crypto trading platforms and a year later roughly 28.67% of the bitcoin held left crypto exchanges. The decreasing quantity of bitcoin kept on centralized exchanges suggests the coins are being held in long-term storage rather than being prepared for trading. Data Suggests Bitcoins Are Being Removed From Exchanges and Into Noncustodial Wallets for Long Term Storage On....
Roughly 49 days ago, the number of bitcoin held on exchange was around 2.503 million, according to statistics recorded by cryptoquant.com. Since then, $4.76 billion worth of bitcoin has been removed from centralized crypto exchanges, as there’s 2.275 million held on trading platforms today. Glassnode reported on July 5, that despite bitcoin’s “weak price-action through June, bitcoin has been withdrawn from exchanges at the most aggressive rate in history.”
Bitcoin Reserves on Exchanges Decline From an Aggressive Number of Withdrawals
At 2:00 p.m. (ET)....
The number of bitcoin held on exchanges has continued to drop in recent times as the metric suggests crypto advocates are pulling funds off of trading platforms for long-term holding. At the time of writing, 2.32 million bitcoin worth over $90 billion is held on centralized cryptocurrency exchanges.
Since This Time Last Year, Large Sums of Bitcoin Continue to Be Withdrawn from Centralized Exchanges
Bitcoin is being pulled off exchanges in greater numbers these days, as the metric shows the amount — 2.32 million bitcoin (BTC) held today — hasn’t been this....
While the price of bitcoin is 38% lower than its $69K price high three months ago, the amount of bitcoin on exchanges is at its lowest figure since April 2021. At the end of July last year, there was 2.59 million bitcoin held by crypto trading platforms, and today there’s only 2.36 million held by exchanges, which means there’s 8.8% fewer bitcoin on exchanges than six months ago.
Bitcoin Exchange Reserves Drop 8% Lower Than the Bitcoin Held on Exchanges 6 Months Ago
According to current statistics, there’s 2.363 million bitcoin, or $100 billion worth, of the....
Bitcoin price is under the control of the bears. Cynical sellers are pulling us lower according to their sense of Bitcoin’s value. Bitcoin Core is 100% censorship resistant and will never go away. A drop lower closes the 1/4 size position Buy trade at $380 (Bitstamp). The drop is interesting because it did not achieve a new low – well, that may still follow later – and price has halted at a longterm supporting Fib trendline. If price can maintain position here, we may see a surprise reversal to the upside, as happened in September last year. In this scenario we need to wait for price to....