Bitcoin

Cryptocurrency exchange netflow has changed drastically in the last four&nbsp;weeks as investors suddenly started to withdraw most of their holdings back to&nbsp;their <a href="https://u.today/crypto-is-easily-traceable-says-financial-crime-consultant" rel="noopener noreferrer nofollow">crypto wallets</a>. Such a tendency is usual for the crypto market when a <a href="https://twitter.com/santimentfeed/status/1582753894521720832" rel="noopener noreferrer nofollow">rebound</a>&nbsp;is incoming. As Santiment's data suggests, Bitcoin saw a massive surge of coins moving off of <a href="https://u.today/aptos-apt-hyped-tokenomics-finally-unveiled-ahead-of-listing-on-binance-and-ftx" rel="noopener noreferrer nofollow">exchanges</a> yesterday, which was&nbsp;also the largest daily amount of coins withdrawn in the last four&nbsp;months. Investors moved away more than 40,000 BTC.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a17284b3383e4efd89728784d949d61c.png">
The aforementioned transaction and the movement of funds in the last few weeks resulted in the supply of coins on exchanges dropping by almost 9%. A negative netflow is usually considered a positive sign for the market as it pushes the chance of an upcoming sell-off on the market down. However, the low percentage of the existing supply on exchanges is not a necessary condition for a recovery, as it does not attract fresh funds to the market in any way. Unfortunately, the inflow to the <a href="https://u.today/xrp-loses-half-of-what-it-gained-crypto-market-review-october-19" rel="noopener noreferrer nofollow">cryptocurrency market</a> remains on an extremely low level, especially if we are talking about institutions. __________________________________________________________________________________________________________________________ Related<a href="https://u.today/black-swan-author-regrets-not-shorting-bitcoin" rel="noopener noreferrer nofollow"> “Black Swan” Author Regrets Not Shorting Bitcoin </a> __________________________________________________________________________________________________________________________ According to the most recent CoinShares report, institutional investors have not made any inflows to the market. The only existing movement of funds accounted for shorting ETPs that give investors reverse exposure to Bitcoin. The lack of new inflows and the movement on the network in general are&nbsp;also projected on the chart of the digital gold. In the last few weeks, Bitcoin has been showing&nbsp;extremely low volatility on the market, with the price moving in the 2% price range. At press time, the first cryptocurrency is trading at $19,152.
___________________ Author: <a href="https://u.today/arman-shirinyan" rel="noopener noreferrer nofollow">Arman Shirinyan</a> <a href="https://u.today/arman-shirinyan" rel="noopener noreferrer nofollow">Arman Shirinyan</a> is a trader, crypto enthusiast and SMM expert with more than four years of experience. Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

Bitcoin Investors Massively Withdrawing Funds From Exchanges, What's Happening?

U.Today

Other articles published on Oct 20, 2022

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