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
Net Transfer BTC : (Source: Glassnode)
Net Transfer Volume USD : (Source: Glassnode)
Net Transfer Volume USD : (Source: Glassnode)

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

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