Cryptocurrency exchanges

$1B In BTC Flows Out Of Crypto Exchange Platforms In Just 24 Hours: Report

According to the latest data from crypto insights firm Santiment, Bitcoin BTC/USD investors have been making over 4,000 transactions per day this week, each over $1 million.

What Happened: A new report from Santiment says that big jumps in activity could mean that Bitcoin is ready to recover the losses it posted in April after it rallied to heights the crypto apex hadn’t seen since the end of 2021.

🐳 #Bitcoin is seeing a continued steady supply of ~4,000 whale transactions exceeding $1M+ Monday through Friday, with mild slowdowns on weekends. Large increases are what we are looking out for to foreshadow a price bounce after April’s retrace. 👀 https://t.co/GVhqxEWqf1 pic.twitter.com/uLQxu1C3RK

— Santiment (@santimentfeed) April 13, 2022

Also Read: This Country Is The Most Crypto-Friendly Nation In The World

The company finds that a staggering 25,878 BTC worth just under $1.05 billion left crypto exchange platforms during the last day, the biggest difference between inflows and outflows seen in the last five weeks.

📊 25,878 #Bitcoin were moved off of exchanges in the past 24 hours, the largest difference between outflow & inflow in 5 weeks. Historically, large quantities of $BTC moving off exchanges leads to price rises given a few days for the pattern to hold. 👍 https://t.co/wZ4Q8LZsxn pic.twitter.com/UCWp7G5WuZ

— Santiment (@santimentfeed) April 14, 2022

At the time of writing, Bitcoin was trading at $40,416.51, down by 0.14% in the last 24 hours. BTC has fallen 5.40% in the last seven days.

Also Read: Nexo CEO Predicts Bitcoin Will Hit $100K Within A Year, Sees Short-Term Headwinds: CNBC

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Source: https://www.benzinga.com/markets/cryptocurrency/22/04/26658442/1b-in-btc-flows-out-of-crypto-exchange-platforms-in-just-24-hours-report

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