Kryptodata

  • Market Cap: $3,832,350,051,333.22
  • 24h Vol: $212,656,189,204.37
  • BTC Dominance: 51.45%

Domän och hemsidan är till salu. Mejla kontakt@kryptodata.se vid intresse.

Crypto exchanges experience significant outflow of assets due to surge in Bitcoin price

Crypto exchanges experience significant outflow of assets due to surge in Bitcoin price

– The outflow of assets from crypto exchanges is seen as a positive sign, indicating traders are moving their assets away from exchanges and not looking to sell.

– On October 24, major crypto exchanges experienced a net outflow as Bitcoin briefly reached $35,000 for the first time in a year.

– Binance saw the largest outflow with over $500 million, followed by crypto.com with $49.4 million and OKX with $31 million.

– This outflow is seen as a reflection of trader sentiment rather than fear-induced withdrawals during a bear market.

– The movement of funds away from exchanges coincided with the rise in Bitcoin’s price.

– The surge in price also led to the liquidation of millions worth of short positions, totaling $400 million.

– On-chain analysts have pointed to the market value to realized value (MVRV) ratio, which currently sits at 1.47, as an indicator of a bull run.

– The crypto market cap has increased by 7.3% in the last 24 hours to $1.25 trillion, the highest valuation since April.

– The surge is believed to be driven by speculation surrounding the launch of a spot Bitcoin exchange-traded fund.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.