Longest streak of Bitcoin withdrawals surpassing deposits signals market shift

2023-6-29 18:30

Tracking Bitcoin’s movement across exchanges is crucial to understanding market dynamics. The balance of Bitcoin on exchanges serves as a reliable barometer of market sentiment, providing invaluable insight into investor behavior and potential market shifts.

Alongside tracking Bitcoin’s balance, it’s equally important to track Bitcoin exchange deposits and withdrawals. The volume of Bitcoin being deposited to and withdrawn from exchanges offers a window into investor behavior and market liquidity.

Since May 31, Bitcoin withdrawals have been outpacing Bitcoin deposits. Daily withdrawals have ranged between 48,000 and 58,000 BTC since the beginning of June, marking the longest streak ever recorded of more Bitcoin being withdrawn than deposited to exchanges.

Graph showing Bitcoin exchange deposits and withdrawals from May 27 to June 27 (Source: Glassnode)

This represents a significant reversal from the historical trend, where more Bitcoin was typically deposited to exchanges than withdrawn.

Graph showing Bitcoin exchange deposits and withdrawals from 2012 to 2023 (Source: Glassnode)

This shift in behavior could signal a significant change in market dynamics.

Firstly, it could create a decrease in selling pressure. When investors move their Bitcoin off exchanges, it shows they have no immediate intention to sell. This could potentially lead to a decrease in supply on exchanges, which, if demand remains constant or increases, could put upward pressure on the price.

The post Longest streak of Bitcoin withdrawals surpassing deposits signals market shift appeared first on CryptoSlate.

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market bitcoin exchanges sentiment barometer serves providing

Источник: cryptoslate.com

market bitcoin → Результатов: 126


Фото:

Bitcoin and S&P 500 Enter Late Bull Phase – Markets Stay Risk-On Ahead Of Q4 Earnings

Bitcoin continues to struggle to break decisively above the $110,000 mark following the October 10 market crash, as volatility and uncertainty dominate sentiment. The market now stands at a critical crossroads — one that could define whether the next phase brings a deep correction or sets the stage for a massive recovery. Related Reading: Tether […]

2025-10-24 05:00


Bitcoin, Cardano, XRP Among Biggest Winners as Market Rebounds – Next Big Players in the Market?

After a $20,000 loss in its price between February 21st and 28th, Bitcoin (BTC) managed to recover yesterday, soaring beyond the $94,000 mark. Led by Bitcoin’s example, numerous altcoins also The post Bitcoin, Cardano, XRP Among Biggest Winners as Market Rebounds – Next Big Players in the Market? appeared first on CryptoNinjas.

2025-3-3 19:23


Фото:

Margin Of Safety Indicates Bitcoin Undervaluation Below $90K Amid Prevailing Market Pessimism

Bitcoin showed unpredictable price action yesterday, plummeting to a low of $89,100 before staging a rapid recovery to reclaim the $96,000 mark. This sharp move is often seen as a liquidity sweep orchestrated by market makers to clear out leveraged positions, a tactic that fuels short-term volatility but strengthens the market’s long-term structure. Related Reading: […]

2025-1-15 11:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Unshaken Bitcoin mining industry navigates fluctuating share prices

Quick Take Recent data analysis has shown that Bitcoin miners’ share prices have undergone significant fluctuations over the past few years. According to analyst Dylan Le Clair’s assessment of an equal-weight public miner index, the shares are currently down by a staggering 54.

Ethereum Exchange Withdrawals Reaches One-Year Low. Why This Matters

Ethereum has seen plummeting exchange withdrawals in recent times. Exchange withdrawals are a metric that is used to sometimes map out investors’ sentiment towards a cryptocurrency. With Ethereum exchange withdrawals reaching one-year lows, it brings to light some facts about the digital asset and where it may be headed.