Flow

Bitcoin

April

when

Coin

<ul> 
 <li>Exchanges have witnessed outflows of more than 136,000 BTC since January 11th.</li> 
 <li>The next six to twelve months may see a significant “squeeze” in supply.</li> 
</ul> 
Since the introduction of spot exchange-traded funds (ETFs) in the U.S, approximately $10 billion worth of <a href="https://thenewscrypto.com/peter-schiff-shifts-focus-to-trumps-djt-stocks-calls-it-bitcoins-alternative/" target="_blank" rel="noreferrer noopener">Bitcoin</a> has deserted cryptocurrency exchanges. <a href="https://glassnode.com/" target="_blank" rel="noreferrer noopener nofollow">Glassnode</a>, an on-chain monitoring company, reports that exchanges have witnessed outflows of more than 136,000 BTC since January 11th. 
Due to large withdrawals from exchanges this quarter, the supply dynamics of Bitcoin are still leaning towards the bulls. With just three months of trading, prominent trading platforms have seen the withdrawal of about $10 billion worth of Bitcoin from the U.S. spot Bitcoin ETFs. 
The cumulative balance of the exchanges monitored by <a href="http://coinbase.com" target="_blank" rel="noreferrer noopener nofollow">Coinbase</a> was 2,320,458 BTC as of March 28, marking the lowest amount since April 2018. This tendency is not going away any time soon. According to Glassnode, the third-biggest day total of 2024 was a withdrawal total of over 22,000 BTC ($1.54 billion) on March 27. 
<h3 class="wp-block-heading" id="h-significant-squeeze-anticipated">Significant Squeeze Anticipated</h3> 
Intermittently, market flow analyst J.A. Maartunn of on-chain analytics platform CryptoQuant saw a massive movement of stablecoin USD Coin (<a href="https://thenewscrypto.com/robinhood-adds-usd-coin-usdc-to-european-platform/" target="_blank" rel="noreferrer noopener">USDC</a>) to the biggest U.S. cryptocurrency exchange, Coinbase. 
According to him, this was the biggest incoming transfer ever. Market watchers are becoming more excited about the potential long-term effects of the ETFs on the supply of Bitcoin and, by extension, its price. 
A number of credible analysts have recently expressed the opinion that the next six to twelve months may see a significant “squeeze” in supply, when demand exceeds the amount of Bitcoin available for sale. The ratio will rise even more after the impending halving event in mid-April, since the quantity of Bitcoin reward to miners gets slashed. 
Highlighted Crypto News Today: 
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Billions in Bitcoin Flow Out of Exchanges as ETFs Drive Supply Squeeze

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