Entspriechend zu Glas Node, the equivalent of $265.6 million worth of Bitcoin has been withdrawn from centralized exchanges in the past 24 hours, with a net outflow of $43.1 million.
📊 Deeglech On-Chain Exchange Flow#Bitcoin $ BTC
➡️ $ 222.5 Milliounen an
⬅️ $ 265.6M aus
📉 Nettofloss: - $ 43.1M# Ethereum $ ETH
➡️ $ 104.8 Milliounen an
⬅️ $ 103.0M aus
📈 Nettofloss: + $ 1.8M#Zeech (ERC 20) $ USDT
➡️ $ 270.8 Milliounen an
⬅️ $ 213.3M aus
📈 Nettofloss: + $ 57.5Mhttps://t.co/dk2HbGwhVw- Glassnode Alarmer (@glassnodealerts) Dezember 27, 2022
At the same time, yesterday was just another day in an ongoing stream of BTC withdrawals from exchanges and transfers to decentralized solutions. Whether the outflow of Bitcoin from exchanges is a continuation of the FTX crisis or preparation for bullish movement in the crypto market is a question worth considering.
What are the talking points?
In favor of the first thesis is data from the same source, according to which a month and a half after the collapse of the “pyramid exchange,” the weekly number of withdrawals from the exchange reached its 30-day minimum. The number of addresses of BTC recipients from exchanges reached the same extreme. That is, to some extent, the second stage of escape from centralized exchanges passed.
📉 #Bitcoin $ BTC Zuel vun den Austauschaustausch (7d MA) erreecht just e 1-Méint niddereg vun 2,191.583
Metrik kucken:https://t.co/QyB7zouWee pic.twitter.com/LCVlwnmRJs
- Glassnode Alarmer (@glassnodealerts) Dezember 27, 2022
On the other hand, the possibility of a greening of the Krypto Maart fields, heavily fertilized with blood over the last year, is evidenced by the consistently positive net inflow of stablecoins represented by USDT on centralized platforms. At the same time, the USDT.D dominance index continues to consolidate near its historic highs.
The crypto market seems to be frozen in anticipation, but with all key indicators hitting either highs or lows, the direction of its future movement should soon be determined.
Source: https://u.today/bitcoin-worth-hundreds-of-millions-of-dollars-keeps-outflowing-from-exchanges