BTC production from exchanges has been reduced to this number


Net outflow of BTC from exchanges decreased to 641 million. USD, and Bitcoin prices hit a monthly high. all information

Cryptocurrency investors are still withdrawing their Bitcoins from exchanges, but not necessarily to sell them. At the moment, the amount of BTC held by the platforms is the highest, indicating long-term confidence in the asset.

Binance’s massive crypto exodus has been delayed, but Bitcoin continues to reject centralized exchanges.

More 5 billion dollars they left Binance on December 13 when investors began to panic about their ability to withstand the bullpen.

The world’s largest cryptocurrency exchange by volume has weathered the storm, as reported by BeInCrypto. However, coins continue to flow from Binance and other exchanges.

around you1.4 billion dollars Bitcoin has left exchanges in the past 24 hours, according to Glassnode. However, the net outflow of BTC from exchanges has dropped to just 641 million US dollars.

Bitcoin withdrawal from exchanges

In addition to the dire scenario, Bitcoin retreating from exchanges is generally considered bullish. This usually happens when investors are preparing to hold the asset rather than sell it (that is, when there are large inflows). According to analytics provider Glassnode, that seems to be happening right now.

Binance

More 5 billion dollars December 13 quit Binance.

In its weekly report on the chain, the company noted that the supply of long-term holders reached an all-time high. 13.9 million BTC. Regarding this year’s losses, he added:

“Despite these impressive losses, the age of the coin supply and the HODLing propensity of the remaining individuals continues to grow.

The amount of long-term Bitcoin shares is equivalent to approx 72.3% circulating supply.

The rally started in late July and didn’t stop even when FTX crashed in early November.. Glassnode noted that after every market downturn in 2022 there were further periods of redistribution and accumulation of coins.

A large amount of BTC was purchased between u$18,000 s24,000and this supply is now aging into long-term support that lasts longer than six months.

Bitcoin price outlook

Bitcoin is still consolidating like it did after the FTX crash. However, it reached its highest price in just over a month after the increase 3.5% Day.

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Crypto investors are still withdrawing their Bitcoin from exchanges

BTC traded as a result and $17,781 at the time of publication and recovered a 13.5% from November 22 the lowest level of the bear cycle.

But the bears are not out of the woods yet. Bitcoin has fallen so far and 74.3 percent from all-time highs, but investors are now in accumulation mode.

Source: news.google.com

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