In the past November, the amount of $BTC withdrawn from exchanges reached over 1 billion $USD, with $BTC being withdrawn daily, hitting a record high since mid-2023. The analysis is as follows:

➜ The Exchange NPC index reached 116 thousand $BTC per day in November, with an average of over 30,000 to 40,000 $BTC withdrawn daily across all exchanges.

➜ Data shows that withdrawing $BTC to private wallets started in August 2024, which was also the starting point of the price surge before Bitcoin hit an ATH of 99,500 $USD.

➜ It is estimated that over 2 million $BTC have been withdrawn from exchanges in Q3 of this year. Total $BTC leaving exchanges in the past 30 days: ~600,000 $BTC (~16 billion U$SD).

⭐️This reflects some observations:

➜ The amount of $BTC leaving exchanges is increasing significantly, reflecting optimistic sentiment and long-term price expectations.

➜ The withdrawal of $BTC from exchanges is often seen as a positive signal, reducing selling pressure and supporting price increases.

➜ Low liquidity risks on exchanges can cause $BTC prices to fluctuate significantly, especially during unexpected events.

⭐️Conclusion:

The phenomenon of #Bitcoin ($BTC) leaving centralized exchanges is a notable development, especially when the price of $BTC has been quite volatile recently.

Compared to the period from January to March this year, when the price of $BTC surged, many investors transferred $BTC to exchanges for the purpose of selling, the current trend is going in the opposite direction. This reflects a change in market sentiment, from a willingness to take profits to a trend of accumulation.

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