Bitcoin Leaving Exchanges Hits An All-Time High

2022-7-9 18:30

June was the largest outflow month for bitcoin leaving exchanges, bringing the remaining balance across exchanges to about 2.4 million bitcoin.

The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

As fears of contagion and counterparty risk have gripped the bitcoin/crypto space, June quietly was the largest month of net withdrawals in recorded history for bitcoin, with a peak 30-day net change of 152,446 BTC leaving exchanges during the 30 days that proceeded June 26. The end-of-month total for June was smaller, but still extremely noteworthy at 123,652 BTC departing exchanges on a net basis over the month.

Bitcoin exchanges net flows and the average bitcoin price Bitcoin exchange flows shows a bitcoin is leaving exchanges at a rapid pace

While these monthly outflows were a record in bitcoin terms, in dollar terms it was not, with April and September 2021 along with April of 2022 boasting larger amounts of net outflows in dollar terms. While it is insightful to denote figures in both dollar and bitcoin terms, we prefer to use bitcoin terms to keep measurement consistent across time periods.

Shown below is the aggregate amount of bitcoin held across exchanges (Binance, Bitfinex, Bithumb, BitMEX, Bitstamp, Bittrex, Coinbase, Coincheck, Crypto.com, FTX, Gate.io, Gemini, HitBTC, Huobi, Kraken, KuCoin, Luno, OKEx, Poloniex).

The total amount of bitcoin across these exchanges at the time of writing is 2,400,178 BTC, equating to $49.35 billion and approximately 12.58% of circulating supply. 

Bitcoin balances on exchanges is trending lower in the last two years

Although exchange balances don’t necessarily correlate directly with the exchange rate, it can be insightful to monitor ongoing trends, specifically when the trend greatly shifts, with March 2020 serving as a great example.

Final Note on Exchange Balances

It will be interesting to see if the trend of decreasing exchange balances accelerates given the vast amount of counterparty risk that the crypto industry was exposed to over recent months. 

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66770.79 (-0.10%)
Объем 24H $23.032b
Изменеия 24h: -0.61 %, 7d: 6.35 %
Cегодня L: $66031.14 - H: $67143.86
Капитализация $1315.538b Rank 1
Цена в час новости $ 21949.08 (204.21%)

bitcoin exchanges leaving remaining bringing balance million

Источник: bitcoinmagazine.com

bitcoin exchanges → Результатов: 126


Фото:

Bitcoin Supply On Exchanges Hits Lowest Value Since Nov 2018, Now At 1.17M

The recent trends in the Bitcoin market indicate a shift towards self-custody as the supply of Bitcoin on exchanges continues to decrease. Despite experiencing a drop below the $30k mark last week, the market has not shown severe reactions, suggesting that fear, uncertainty, and doubt (#FUD) are not driving significant sell-offs. This observation highlights the […]

2023-7-26 08:48


Bitcoin supply on exchanges lowest since 2017 bull market peak, but why? On-chain report

Key Takeaways 11.8% of the Bitcoin supply is currently on exchanges, the lowest mark since 2017 Supply of Bitcoin on exchanges has been consistently falling since March 2020, when crypto bottomed ahead of the explosive pandemic bull run Originally, people pulled Bitcoin to participate in vibrant crypto ecosystem, with high volumes and activity and much […] The post Bitcoin supply on exchanges lowest since 2017 bull market peak, but why? On-chain report appeared first on CoinJournal.

2023-2-25 18:35


Фото:

Bitcoin Balances on Exchanges Are Draining, Leading Platforms See $10 Billion in BTC Withdrawn in 4 Months

Bitcoin prices have regained momentum during the last two days as the price per coin touched a March 2021 high at $54,822 on Tuesday morning (ET). Back in December 2020, it was noted that bitcoin on exchanges dropped to a three-year low and this year bitcoin exchange balances continue to plummet. A whopping 189,000 bitcoin […]

2021-3-10 22:00


Bitcoin Market in Backwardation Supports A ‘Cautious Tone’ for BTC Price Short Term

The price of Bitcoin on spot exchanges is currently trading around $6,750 after sliding below $7,000 over the weekend. Some extremely bearish predictions are even calling for fresh lows. However, the good thing is Bitcoin has found a “higher floor” and given that currently, the cash on exchanges is at all-time highs and sentiments are […]

2020-4-16 22:11


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

The Dos and Don’ts of Bitcoin Self-Custody

It’s important to take bitcoin into self-custody in order to eliminate counterparty risk when holding the asset. A review of best practices and mistakes to avoid when doing so. The third installement of “10 Steps to Self-Sovereignty” powered by Ledger.