Record low for Bitcoin’s exchange transfers – Will it push BTC’s price down?

Quick Summary:

Bitcoin’s exchange transfers have dropped significantly, which might have a negative impact on its price.

According to our analysis of CryptoQuant’s data, Bitcoin’s net deposits on exchanges were lower compared to the last seven days’ average, hinting at a rise in selling pressure.

The first highlighted peak in 2017 corresponds with Bitcoin’s historical price surge, while the second peak around 2021 matches another significant price movement.

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Article Details

Author / Journalist: Dipayan Mitra

Category: Crypto

Markets: United States

Topics: Ambcrypto Trading View BTC Trading View News 1 News Social Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-21 @ 03:00:27 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: ambcrypto.com

Language: English

Article Length: 542 words

Reading Time: 4 minutes read

Sentences: 34 lines

Sentence Length: 16 words per sentence (average)

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

Copyright Owner: © AMBCrypto

News ID: 24572392

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About AMBCrypto

Main Topics: Crypto

Official Website: ambcrypto.com

Update Frequency: 16 posts per day

Year Established: 2018

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #103

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