United

Bitcoin

Spot

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-sees-massive-withdrawals-with-the-rise-of-us-spot-etfs" rel="noopener noreferrer nofollow">Bitcoin Sees Massive Withdrawals with the Rise of US Spot ETFs</a><br></p>
<p style="text-align: justify">The United States has seen a significant movement of <a href="https://en.bitcoinhaber.net/new-metrics-hint-at-bitcoin-market-jitters-as-prices-swing" rel="noopener noreferrer nofollow">Bitcoin</a> from exchanges to wallets following the launch of spot exchange-traded funds (ETFs). An estimated $10 billion in Bitcoin has been moved out of exchanges, marking a substantial decrease in reserve holdings.</p>
<h2 id="market-shift-favors-bullish-sentiment">Market Shift Favors Bullish Sentiment</h2>
<p style="text-align: justify">Bitcoin’s underlying market dynamics are demonstrating a bullish turn as substantial quantities of the <a href="https://en.bitcoinhaber.net/continued-attraction-in-digital-assets-institutional-investors-mark-11th-consecutive-week-of-entry" rel="noopener noreferrer nofollow">cryptocurrency</a> are being pulled from trading platforms. This trend has gained momentum with the introduction of US spot Bitcoin ETFs, which have been operational for a brief period but have already influenced a heavy outflow of funds from exchanges.</p>
<p style="text-align: justify">Data from prominent cryptocurrency exchange <a href="https://en.bitcoinhaber.net/trading-frenzy-hits-turkish-crypto-exchanges-as-local-volumes-soar" rel="noopener noreferrer nofollow">Coinbase</a> revealed that Bitcoin holdings on exchanges have hit a record low not seen since April 2018, with just over 2.3 million BTC remaining on platforms. The trend of Bitcoin withdrawal does not appear to be decelerating, as evidenced by a single day’s transactions that saw over 22,000 BTC transferred out of exchanges, making it one of the largest movement of funds in the year.</p>
<h2 id="impending-bitcoin-halving-could-tighten-supply-further">Impending Bitcoin Halving Could Tighten Supply Further</h2>
<p style="text-align: justify">The upcoming Bitcoin halving event is stirring discussions about its potential effects on Bitcoin’s supply and value. Analysts predict a significant tightening in Bitcoin’s availability in the market, particularly as ETFs are buying up more Bitcoin than what miners are able to produce daily. As the halving approaches, the issuance rate of new Bitcoins is expected to dwindle, leading to heightened anticipation of a supply crunch.</p>
<p style="text-align: justify">Experts like Charles Edwards of Capriole Investments foresee a pivotal moment for Bitcoin as it becomes a scarcer asset than gold, with ETF demand and the halving contributing to this status. With April approaching, the combination of a supply decrease and growing institutional interest could set the stage for an eventful period in Bitcoin’s history.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-sees-massive-withdrawals-with-the-rise-of-us-spot-etfs" rel="noopener noreferrer nofollow">Bitcoin Sees Massive Withdrawals with the Rise of US Spot ETFs</a></h5>

Bitcoin Sees Massive Withdrawals with the Rise of US Spot ETFs

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