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On-chain data shows the Bitcoin miner outflows have surged, suggesting that selling from this cohort may be behind the crypto’s decline to $20,700. Bitcoin Miner Outflows Have Registered Multiple Spikes Recently As pointed out by an analyst in a CryptoQuant post, on Wednesday, miners deposited 669 BTC to exchanges. A relevant indicator
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Cryptocurrency exchange Huobi has seen over $94.2 million dollars in net outflows within the past week. Within the past 24 hours alone, approximately $60 million has flowed out of the exchange, according to crypto analytics company Nansen.In the past 24 hours, Huobi has seen a significant increase in net outflows$60.9M*
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Its +2% bid depth also remains comparatively narrow, according to CoinGecko data, when compared with other tokens of a similar market cap. In a recent column, Kaiko’s director of research, Clara Medalie, pointed out that the lack of 2% bid depth was a major red flag for FTX’s FTT token. Source
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Bitcoin is still struggling below $17,000 and centralized exchange inflows and inflows seem to be mirroring the trend of the digital asset. Over the last 24 hours, the net flows from exchanges have been seeing a near balance between inflows and outflows. Balancing Each Other Out The exchange net flows reported by
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Crypto exchange Binance has seen massive withdrawals over the last week.Binance, the world’s largest cryptocurrency exchange by trading volumes, has resumed the withdrawal of USDC stablecoin after pausing it temporarily for a few hours. On Tuesday, December 13, Binance had initially paused withdrawals due to a “token swap” and due
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“Regionally, the negative sentiment was focused on the U.S., Sweden and Canada, which all saw either outflows from long investment products or inflows into short products,” said James Butterfill, head of research at CoinShares. “Germany and Switzerland stood out as investors in aggregate, added to long only or sold out
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Gemini suspended its yield-earning program, shaking users’ confidence in the exchange. Original Source
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Bitcoin (BTC) investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world’s second-largest crypto exchange last week.On-chain exchange flow data is showing a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode.In a Nov. 13 post on Twitter, Glassnode reported that Bitcoin
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More than $380 million in crypto left FTX and FTX US wallets late Friday. Source
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Institutional investors have been quite neutral on both bitcoin and the crypto market at large for a while now. This has translated
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