Bitcoin

<h2 id="quick-take">Quick Take</h2> 
Crypto.com has recently experienced an unprecedented influx of Bitcoin, with the volume reaching around $50 million. Compared to the inflows seen by <a href="https://cryptoslate.com/insights/unprecedented-series-of-bitcoin-inflows-and-outflows-observed-across-exchanges/">larger exchanges</a> in recent weeks, this may not seem significant. 
However, this surge underlines a noticeable trend of increased activity even on smaller exchange platforms. 
<figure id="attachment_368797" aria-describedby="caption-attachment-368797" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-368797 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/CC-1.png" alt="Exchange Netflow: Crypto.com (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/CC-1.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-368797" class="wp-caption-text">
 Exchange Netflow: Crypto.com (Source: Glassnode)
 </figcaption>
</figure> 
This inflow serves as the highest since the collapse of FTX in November 2022 and was primarily driven by a large whale. Historically, such inflows and outflows at Crypto.com have been closely correlated with considerable price movements, potentially signaling a period of increased market volatility. 
In 2023, the crypto market witnessed a significant pattern where a considerable inflow or outflow followed a substantial inflow or outflow. Specifically in the months of March, April, and June. Given this trend, it raises the question – are we on the cusp of another massive outflow? 
Notably, Crypto.com holds approximately 47,000 BTC on their exchange, a figure that has remained relatively stable throughout 2023. Yet, the recent surge in inflows could be forecasting a shift in this equilibrium, signifying a potential market trend that warrants close monitoring. 
<figure id="attachment_368792" aria-describedby="caption-attachment-368792" style="width: 100%" class="wp-caption aligncenter">
 <img class="wp-image-368792 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/10/CC.png" alt="Exchange Balance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/10/CC.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/10/CC-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-368792" class="wp-caption-text">
 Exchange Balance: (Source: Glassnode)
 </figcaption>
</figure> 
The post <a rel="nofollow" href="https://cryptoslate.com/insights/crypto-dot-com-records-highest-bitcoin-inflow-since-ftx-collapse/">Crypto dot com records highest Bitcoin inflow since FTX collapse</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Crypto dot com records highest Bitcoin inflow since FTX collapse

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