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📈 New Peak of Withdrawals on Bitcoin Exchanges

Last Wednesday, major cryptocurrency exchanges witnessed a significant increase in Bitcoin withdrawals. More than 28,000 BTC were withdrawn in a single day, highlighting an emerging trend among investors.

🗓️ Last Week of December: Record Withdrawals in 2023

At the close of 2023, exchanges experienced the highest number of Bitcoin withdrawals of the year. December 27 was especially notable, with users withdrawing up to 28,000 BTC to their personal wallets.

📉 Consolidated Trend: Impact on Exchanges and Coinbase

This upward trend in withdrawals was consolidated throughout December. Coinbase, one of the most prominent exchanges, recorded an outflow of more than 14,000 BTC in a single day, marking its lowest bitcoin reserve in the entire year.

🏦 Coinbase as Custodian: Link with Bitcoin ETF

Interest is focused on Coinbase as it could become the custodian of Bitcoin spot ETFs. This move could be related to the decline in bitcoin reserves on the platform, suggesting a change in investment strategy.

⏳ Expectations before the SEC Decision: Bitcoin Spot ETF

The US Securities and Exchange Commission (SEC) will make a key decision on approving spot bitcoin ETFs in early January. This event has the potential to significantly alter the value of Bitcoin and the flow of capital in the market.

👥Investors Anticipating Market Events: Focus on Bitcoin Custody

The interpretation of these BTC withdrawals suggests that investors are looking to safeguard and save their coins for the long term. This behavior reflects an optimistic belief in future Bitcoin bullish movements.

📊 Analyst-Backed Theory: Bullish Bitcoin Outlook

Prominent analysts such as Raoul Pal support the theory that Bitcoin is in the early phases of a bull market.

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This is a general announcement. Products and services referred to here may not be available in your region.

🚨How to Get Started:
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📌 Sub-account’s trading volume not combined with the master account’s standard trading volume.

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