Third biggest outflow of Bitcoin from exchanges this year – driven by whales

quick take

• Bitcoin was volatile yesterday, hitting $26,500 and $28,600 in a single day.
• The Federal Reserve raised 25bps and cut risk assets for a day in a meeting with Chairman Powell.
• However, it turns out that the main driver of Bitcoin’s price drop is liquidation.
• Spot bitcoins were bought from exchanges, with around $360 million being the highest value for the US dollar this year.
• 3rd Largest Bitcoin Volume in 2023 — Driven by Whales Over $1 Million Outflow

The third largest Bitcoin outflow from an exchange this year – caused by a whale – first appeared on CryptoSlate.