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Exchanges See Biggest Withdrawal of Bitcoin Ever When BTC Price Approaches $10K

Yiran Dai

Summary: According to the Daily Hodl, crypto exchanges are seeing the sharpest drop ever in bitcoin balances as traders move the currency to their wallets, based on data from Glassnode, the crypto data platform.

According to the Daily Hodl, crypto exchanges are seeing the sharpest drop ever in bitcoin balances as traders move the currency to their wallets, based on data from Glassnode, the crypto data platform.

Analysts from Glassnode said, “The number of BTC on exchanges has been steadily decreasing since the crash in March, and is now approaching a 1 year low. This is the largest and most prolonged BTC exchange balance downtrend in Bitcoin’s history.” 

Bitcoin’s trading price has been approaching the $10,000 bar lately, according to Bitpush Market Data, especially when the price hit $9909 on May 18.

By Yiran Dai

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