Bitcoin

<h2 id="quick-take">Quick Take</h2>
<p>The current year has marked a significant shift in the Bitcoin exchange flow. A renewed momentum in Bitcoin withdrawals is evident, with over 61,000 BTC recently withdrawn, a substantial surge from the year-to-date low of nearly 43,000 BTC. This uptick suggests an increasing preference for investors to hold their Bitcoin assets off-exchange, possibly indicating a stronger long-term belief in the value of Bitcoin.</p>
<p>Concurrently, Bitcoin deposits into exchanges are on a consistent downtrend, even with a recent minor uptick to 50,000 BTC, suggesting lesser selling pressure in the market. The most striking is the gap between withdrawals and deposits, standing at a remarkable 10,000 BTC, marking it as the largest this year and the second-largest ever. This differential is only shadowed by the FTX collapse aftermath, which witnessed an overwhelming peak of over 80,000 BTC withdrawn.</p>
<p>These trends could suggest a shift in investor sentiment, with more investors seemingly opting to hold their assets long-term rather than seeking immediate liquidity on exchanges.</p>
<figure id="attachment_370899" aria-describedby="caption-attachment-370899" style="width: 100%" class="wp-caption aligncenter"><img class="wp-image-370899 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/11/with.png" alt="Exchange Transaction Dominance: (Source: Glassnode)" width="1800" height="1013" srcset="https://cryptoslate.com/wp-content/uploads/2023/11/with.png 1800w, https://cryptoslate.com/wp-content/uploads/2023/11/with-300x169.png 300w, https://cryptoslate.com/wp-content/uploads/2023/11/with-1024x576.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/11/with-768x432.png 768w, https://cryptoslate.com/wp-content/uploads/2023/11/with-1536x864.png 1536w" sizes="(max-width: 1800px) 100vw, 1800px">
 <figcaption id="caption-attachment-370899" class="wp-caption-text">
  Exchange Transaction Dominance: (Source: Glassnode)
 </figcaption>
</figure>
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/insights/bitcoin-withdrawals-reach-one-of-the-highest-levels-of-the-year/">Bitcoin withdrawals reach one of the highest levels of the year</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

Bitcoin withdrawals reach one of the highest levels of the year

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