Bitcoin Exchange Holdings Plunge: 200K BTC Withdrawn in 60 Days
Thereโs exciting news in the crypto world! ๐ฎ Over 200,000 BTC have been withdrawn from major exchanges in the past two months, indicating a significant market shift ๐.
Coinbase was the exchange that recorded the largest withdrawals, followed by Binance, with a significant outflow ๐ธ. Despite the decline in Bitcoin price, trading volumes have actually increased in recent market activity ๐.
According to analysts at HODL15Capital, the decline in Bitcoin holdings on exchanges reflects a change in market sentiment ๐. Coinbase lost 86,316 BTC, but still holds 740,491 BTC ๐ผ. Meanwhile, Binance lost 42,865 BTC, bringing their balance to 558,827 BTC ๐ป.
Other exchanges like Kraken, Gemini, and Upbit also saw withdrawals, with Kraken down 13,076 BTC, Gemini losing 10,188 BTC, and Upbit withdrawing 6,024 BTC ๐.
This is a sign that many people may prefer to store their Bitcoin in private wallets rather than on exchanges, so we'll need to keep an eye on this development! ๐
