After Bitcoin recently broke above the $40,000 level, about 61,000 Bitcoin departs exchanges
About 61,000 BTC Depart Exchanges
About 61,000 BTC have been removed from exchanges in just 15 days, according to a figure released by Bitcoin Archive on March 22 by the on-chain analytics company Glassnode.
The amount that left exchanges equaled around $2.6 billion, based on the price of Bitcoin.
The amount of BTC on these exchanges 15 days prior to publication was approximately 2.57 million BTC, whereas the exchange wallets contained nearly 2.51 million BTC.
According to data provided on the same day by another crypto analytics firm, IntoTheBlock, as much as 15,000 BTC, or roughly $638 million, was withdrawn from exchanges in just one day.
According to IntoTheBlock, this is the largest outflow since January 29, 2022. The platform went on to say:
“The last time BTC experienced a large outflow, it was followed by a significant rise in price.”
The Canadian Purpose Bitcoin exchange-traded fund (ETF) just hit an all-time high of 34,850 BTC as bullish sentiment for BTC grows.
According to Glassnode figures tweeted on March 22 by market expert Jan Wüstenfeld, this beats the previous record of 34,760 BTC set on March 3, 2022.
Finally, at the time of publication, BTC was trading at $41,935, compared with seven days prior, when it was trading at $39,120, just below the critical $40,000 level.