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<ul> 
 <li>Leading data analytics provider, CryptoQuant observes changes to Bitcoin in the past year.</li> 
 <li>It lists three dramatic changes due to reserves, institutions, and futures market.</li> 
 <li>It also explores a huge correction that took place this month.</li> 
</ul> 
<p>Leading on-chain data and analytics provider, <a href="https://cryptoquant.com/analytics/dashboard/64e48704a1fcdb452cde23fb" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a>, shares some insight over Bitcoin and what has changed to it over the past year. Specifically, the post goes on to explain three particular changes to Bitcoin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CertiKSkynetAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CertiKSkynetAlert</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>1/ <a href="https://twitter.com/zachxbt?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ZachXBT</a> tweeted a warning earlier today that Magnate Finance was likely to become an exit scam, due to a connection with the Solfire $4.8 million rugpull in January 2022. The Magnate deployer's address is directly linked to the previous scam. <a href="https://t.co/tukfKzCRpR" rel="noopener noreferrer nofollow">https://t.co/tukfKzCRpR</a></p>— CertiK Alert (@CertiKAlert) <a href="https://twitter.com/CertiKAlert/status/1694996329104089155?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 25, 2023</a> 
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<p>As we can see from the post above, CryptoQuant explores recent changes in Bitcoin’s landscape. In particular, it talks about reserves, institutions, and the futures market.</p> 
<p>To begin, the thread remarks how as Bitcoin’s landscape continues to evolve, several key trends have emerged over the past year, shedding light on its trajectory and market dynamics. The top three significant shifts include the following.&nbsp;</p> 
<p>Bitcoin’s effect on Centralized Exchanges Reserves. To highlight, Bitcoin reserves on non-US exchanges, including prominent platforms like Binance, OKX, and Bitfinex, have shown a notable increase of over 10% in the last 12 months. In contrast, the Bitcoin reserves of US-based exchanges like Coinbase, Gemini, and Kraken, have experienced a substantial decline ranging from 30% to over 50%.</p> 
<p>The second is institutions’ accumulation and <a href="https://cryptonewsland.com/microstrategy-report-reveals-its-152-8k-btc-holding-worth-4-53b/" target="_blank" rel="noopener noreferrer nofollow">steady institutional buying</a>. Evidence suggests that institutions have been actively accumulating Bitcoin. Withdrawal patterns and wallet activity point towards a consistent trend of institutional buying.</p> 
<p>For instance, Gemini’s significant withdrawals in August alone. To specify, <a href="https://www.gemini.com/" target="_blank" rel="noopener noreferrer nofollow">Gemini</a> witnessed over 20,000 BTC being withdrawn from its platform, accounting for approximately 25% of its total holdings.</p> 
<p>Lastly, futures market participation and rising interest in derivatives. The Bitcoin futures market has seen a surge in participation by market participants. The open interest for Bitcoin derivatives has hit a new all-time high (ATH) since November 2022.</p> 
<p>The post also speaks of a <a href="https://cryptonewsland.com/bitcoins-rollercoaster-why-30-dips-are-just-pit-stops-on-a-10x-journey/" target="_blank" rel="noopener noreferrer nofollow">notable correction in the Bitcoin</a> market occurring in August 2023. This correction was marked by a significant long liquidation event, which was the most substantial since the FTX collapse incident in November 2022.</p> 
<h3 class="wp-block-heading" id="h-the-year-in-bitcoin">The Year In Bitcoin</h3> 
<p>In essence, the past year has brought forth significant changes in the Bitcoin ecosystem. Centralized exchanges’ Bitcoin reserves have shown divergent trends, with non-US exchanges seeing an increase while US-based exchanges experience declines. The steady accumulation of Bitcoin by institutions underscores their growing interest in the digital asset. Additionally, the Bitcoin futures market has witnessed increased participation and a notable correction event in August has further shaped the market’s recent dynamics.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/is-traditional-banking-dead-tim-drapers-advice-shake-up-financial-landscape/" rel="noopener noreferrer nofollow">Is Traditional Banking Dead? Tim Draper’s Advice Shake Up Financial Landscape</a></li> 
 <li><a href="https://cryptonewsland.com/cryptoquant-becomes-first-on-chain-data-provider-for-cme-group/" rel="noopener noreferrer nofollow">CryptoQuant Becomes First On-Chain Data Provider for CME Group</a></li> 
 <li><a href="https://cryptonewsland.com/binances-proof-of-reserves-is-solid-cryptoquant-report/" rel="noopener noreferrer nofollow">Binance’s Proof of Reserves is Solid: CryptoQuant Report</a></li> 
 <li><a href="https://cryptonewsland.com/coinbase-set-to-reshape-crypto-landscape-with-l2-solution-base/" rel="noopener noreferrer nofollow">Coinbase Set to Reshape Crypto Landscape with L2 Solution Base</a></li> 
 <li><a href="https://cryptonewsland.com/cryptoquant-bear-market-miners/" rel="noopener noreferrer nofollow">CryptoQuant: Bear Market for Miners Not Over Yet</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/cryptoquant-explores-recent-changes-in-the-bitcoin-landscape/">CryptoQuant Explores Recent Changes in the Bitcoin Landscape</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

CryptoQuant Explores Recent Changes in the Bitcoin Landscape

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