Wednesday, December 8

How much have investors withdrawn from the exchanges?

Daily Bitcoin withdrawals are increasing as investors withdraw their holdings from the exchanges.

Specifically, in three days, investors have withdrawn $ 1.3 billion worth of Bitcoin from the exchanges.

Indeed, after hitting an all-time high, Bitcoin is currently trading at $ 58,800. This is recorded by our internal Crypto Online tool.

Very importantly, there is no indication of where the price will go, while investors wait to see if the price maintains the trend or corrects further.

$ 1.3 Billion in Bitcoin Leaves Market in Just Three Days

This suggests that the market is in the “money accumulation” phase. In this phase, investors are buying as many assets as possible and then consolidating their holdings in anticipation of better prices.

Rather than dumping all assets in anticipation of the bear market, investors sell BTC just so they can make strategic profits.

In particular, despite the recent correction in which Bitcoin lost approximately 20% of its value in a week, the data suggests that the liquidity crisis could be increasing.

In just three days, the Exchanges have seen more than 23,000 coins removed. For a value of more than $ 1.3 billion.

In fact, crypto analyst Alí Martínez described that the number of withdrawals had seen a dramatic increase in recent days. Regardless of the Bitcoin price drop.

According to other data from Glassnode, revealed that more than 17% of the total supply of Bitcoin (BTC) has submerged. Which means that only 83% have remained in profit.

What do the analysts think?

In this regard, the analyst Credible Crypto indicated: «19 months later, and here we are. It doesn’t really matter what kind of structure this wave forms. The purpose is the same, re-accumulation before the fifth and final wave of this bull cycle».

However, analyst Michael van de Poppe still believes that we are in a bull market.

«As a reminder, Bitcoin could even correct to 48-50K and remain bullish. I hope a healthy correction occurs».

So does market sentiment remain in greed territory, indicating buying pressures in the markets? Leave your opinion in the comment box.

I retire with this phrase by Leonardo da Vinci: «Whoever wants to get rich in one day will be hanged in a year».

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