Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>May 5 saw the sixth biggest outflow of Bitcoin from exchanges since the start of the year.</li>
<li>Roughly $240 million worth of Bitcoin was driven primarily by large whales, denoted by the red and orange colors.</li>
<li>This is supported by the accumulation trend score by cohort, which denotes that whales that hold over 10,000 Bitcoin or more continue accumulating and have been for over a month.</li>
<li>While all other cohorts are still in a state of distribution.</li>
</ul>
<figure id="attachment_323223" aria-describedby="caption-attachment-323223" style="width: 1059px" class="wp-caption aligncenter"><img class="wp-image-323223 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/ATS1.png" alt="Accumulation trend score by cohort: (Source: Glassnode)" width="1059" height="458" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/ATS1.png 1059w, https://cryptoslate.com/wp-content/uploads/2023/05/ATS1-300x130.png 300w, https://cryptoslate.com/wp-content/uploads/2023/05/ATS1-1024x443.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/ATS1-768x332.png 768w" sizes="(max-width: 1059px) 100vw, 1059px" /><figcaption id="caption-attachment-323223" class="wp-caption-text">Accumulation trend score by cohort: (Source: Glassnode)</figcaption></figure>
<figure id="attachment_323222" aria-describedby="caption-attachment-323222" style="width: 1800px" class="wp-caption aligncenter"><img class="wp-image-323222 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/05/out.png" alt="Net Volume: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/05/out.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/05/out-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/05/out-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/05/out-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/05/out-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px" /><figcaption id="caption-attachment-323222" class="wp-caption-text">Net Volume: (Source: Glassnode)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/friday-saw-the-sixth-biggest-outflow-of-bitcoin-from-exchanges-ytd/">Friday saw the sixth biggest outflow of Bitcoin from exchanges YTD</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Friday saw the sixth biggest outflow of Bitcoin from exchanges YTD

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