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Bitcoin (BTC) reached a high of $20.9K when the ECB increased interest rates by 75 basis points, but it has since given up those gains due to concerns about inflation and a recession. However, Bitcoin experienced its greatest net outflow from crypto exchanges in the preceding six months, with over 70 000 BTCs worth $1.52 billion leaving exchanges. The price of BTC is $20,150, down 3% from the day before.During 70K Bitcoins worth $1.52 billion were the largest net outflow from cryptocurrency exchanges over the preceding six months.Bitcoin (BTC) reached a high of $20.9K when the ECB increased interest rates by 75 basis points, but it has since given up those gains due to concerns about inflation and a recession. However, Bitcoin experienced its greatest net outflow from crypto exchanges in the preceding six months, with over 70 000 BTCs worth $1.52 billion leaving exchanges. The price of BTC is $20,150, down 3% from the day before.Largest Net Outflow for Bitcoin from Crypto Exchanges on RecordAccording to IntoTheBlock data, a massive outflow of assets from cryptocurrency exchanges was what drove Bitcoin&#39;s price above $20K on Thursday. On October 26, more than 70k <a href="https://www.coingabbar.com/en/crypto-currency-news-english/paraguay-warns-illegal-bitcoin-mining-impact-power-stability" rel="noopener noreferrer nofollow">Bitcoins</a> worth $1.52 billion left exchanges, marking the largest net outflow in the preceding six months.Exchanges for Bitcoin (BTC) are losing money. CoinGabbar has previously recorded large-scale Bitcoin (BTC) moves made by whales. Actually, whales moved more than 15,000 bitcoins, which caused the price of BTC to rise above $20,000.According to the most current Santiment statistics, after a protracted down market, Bitcoin whales are ready to re-enter and raise prices. The information also demonstrates that large investors and &#34;whales&#34; do actually keep their funds in U.S. and foreign treasuries.According to the Bitcoin and Stablecoins Market Cap, large institutional investors and massive whale addresses (blue line) have been selling off their BTC holdings since November of last year. Whales and major investors are withdrawing their money out of stablecoins, as evidenced by the decline in the combined market capitalization of USDT and USDC (in yellow). A rise in the market capitalization of stablecoins will therefore support a bottom for Bitcoin. The value of cryptocurrencies may yet increase despite the significant increase in whale supply.macroeconomic variables that affect price growthEven though the whole cryptocurrency market, including Bitcoin and Ethereum, enjoyed a significant comeback in the last two days, the macro continues to put pressure on cryptocurrencies. The ECB raised interest rates by 75 basis points yesterday despite worries about a recession, which led to volatility and a reversal of gains on the cryptocurrency market.The US Federal Reserve will raise rates at its FOMC meeting on November 2. According to the CME FedWatch Tool, a rate increase of 75 bps is likely to occur in 86.5% of cases. A week earlier, the chance was 95%.

Crypto Exchanges See $1.52 Billion in Bitcoin Outflows

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