Bitcoin Exchange Exodus: Investors Withdrew $24 Billion In BTC Over Last 8 Months

Quick Summary:

On-chain data shows Bitcoin has continued to leave the exchanges’ wallets recently, a sign that the asset’s price could be bullish.

More specifically, the indicator’s value has reduced by 400,000 BTC over the last eight months, equivalent to more than $27 billion at the current exchange rate of the cryptocurrency.

On the other hand, the indicator registering a decline implies the users are transferring a net amount of BTC out of the wallets associated with exchanges.

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Article Details

Author / Journalist: Keshav Verma

Category: Crypto

Markets: Hungary

Topics: Btc Bitcoin News Bitcoin Bitcoin Exchange Reserve BTCUSDT Bitcoin Bullish Bitcoin Exchange Outflows

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 15:00:03 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 388 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 23104897

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

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Year Established: 2014

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News Last Updated: 10 hours ago

Coverage Areas: Hungary

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Publisher ID: #105

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