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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-hit-record-high-as-market-shows-volatility/" data-wpel-link="internal">Bitcoin Withdrawals Hit Record High as Market Shows Volatility</a> 
Despite sharp declines in the cryptocurrency world today, a development is seen as a sign of a potential new rally. Accordingly, $750 million worth of <a href="https://coin-turk.com/bitcoin-40-000-dolara-ulasabilir-mi-populer-analistlerden-dikkat-ceken-btc-yorumlari" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoin-islem-ucretleri-dusmeye-devam-ediyor" data-wpel-link="internal">BTC</a>) was withdrawn from various cryptocurrency exchanges. This figure was recorded as the highest since May 2023. A large part of this withdrawal was carried out by the Bitfinex and Kraken exchanges, with $524 million and $130 million respectively. 
<h2 style="text-align: justify" id="bitcoin-price-peaks">Bitcoin Price Peaks</h2> 
This week, <a href="https://en.coin-turk.com/red-bull-racing-teams-up-with-tezos-in-crypto-partnership/" data-wpel-link="internal">Bitcoin</a> reached its fourth highest level of all time, increasing excitement. The outflow of Bitcoin from exchanges can be considered a positive indicator of long-term confidence in Bitcoin, as investors prefer to independently secure their assets. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-328713 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-bitcoin-coin-turk-com-1-5.png" alt="" width="566" height="519"> 
With investors pulling back from risky assets, Bitcoin fell below $70,000. This decline occurred after Bitcoin reached a new peak for the fifth time in the last seven days. Bitcoin retreated to $65,565 with a 9% drop. Other tokens such as <a href="https://coin-turk.com/upbitden-calinan-ethler-harekete-gecti" data-wpel-link="internal">Ethereum</a>, <a href="https://en.coin-turk.com/shiba-inu-price-predictions-and-current-shib-chart-comments/" data-wpel-link="internal">Shiba</a> Inu, and XRP also experienced the same downward trend. 
US stocks and cryptocurrency currencies saw a decline, despite signs of a slowdown in some economic sectors, as bets on a strong inflation report suggested the Federal Reserve would not rush to lower interest rates. Lower interest rates tend to increase the attractiveness of cryptocurrencies. 
<h2 style="text-align: justify" id="stable-support-zone-for-bitcoin">Stable Support Zone for Bitcoin</h2> 
While investors wait to determine the future of Bitcoin, cryptocurrency expert Ali Martinez believes there is a stable support zone between $64,750 and $66,700, based on 382,000 addresses holding over 275,000 <a href="https://en.coin-turk.com/max-keiser-warns-of-potential-us-government-seizure-of-bitcoin-in-etfs/" data-wpel-link="internal">BTC</a>. 
Martinez emphasizes that closely monitoring this level is critical; losing it could shift focus to the next significant demand zone between $60,760 and $62,790, supported by 797,500 addresses holding more than 298,000 Bitcoins. 
In parallel with these developments, Bitcoin, the flagship of cryptocurrencies, faces tough resistance between $70,180 and $71,340. This barrier is reinforced by 533,300 addresses holding a total of 433,000 Bitcoin. BTC was trading at $68,146 at the time of writing. 
Predicting the future movement of Bitcoin’s price is challenging, but a recovery from these levels could mean new peaks for BTC. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-hit-record-high-as-market-shows-volatility/" data-wpel-link="internal">Bitcoin Withdrawals Hit Record High as Market Shows Volatility</a></h5>

Bitcoin Withdrawals Hit Record High as Market Shows Volatility

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