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 <p class="is-style-lead">Nearly $1 billion worth of Bitcoin (BTC) was withdrawn from cryptocurrency <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> in the last 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, according to data gathered on from blockchain analytics platform Glassnode.</p>
 <p>Over the last 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a>, approximately $612.3 million worth of Bitcoin flowed into <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> while $1.5 billion was withdrawn, resulting in a net outflow of $936.5 million. This massive movement of Bitcoin off <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> reduces the circulating supply available for trading.</p>
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 <p>Ethereum (ETH) also saw significant outflows during the same period. Around $356.9 million entered exchanges while $544.6 million was withdrawn, for a net outflow of $187.7 million. Similarly, Tether’s USDT stablecoin had $418.1 million in inflows compared to $458.6 million in outflows, totaling -$40.5 million in net outflows.</p>
 <p>Large cryptocurrency withdrawals from <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> are typically interpreted as a bullish sign, as investors transfer coins to private wallets for longer-term holding. This locks up supply and decreases selling pressure.</p>
 <p>At the time of writing, Bitcoin is trading just under $34,500, having gained 0.35% over the last 24 hours. To further cement the current sideways price trend, Bitcoin is down by just 0.2% over the last week as the crypto market struggles to find a clear direction.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nearly-1b-of-bitcoin-leaves-exchanges-in-24-hours-tbt68719.html">https://thebittimes.com/nearly-1b-of-bitcoin-leaves-exchanges-in-24-hours-tbt68719.html</a></p>

Nearly $1b of Bitcoin leaves exchanges in 24 hours

TheBitTimes

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