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$3 billion in Bitcoin left exchanges this week amid FTX contagion fears

Published 11/13/2022, 06:47 AM
Updated 11/13/2022, 08:20 AM
$3 billion in Bitcoin left exchanges this week amid FTX contagion fears

Bitcoin (BTC) investors are withdrawing funds from exchanges at a rate not seen since April 2021 with nearly $3 billion in Bitcoin withdrawn over the past seven days.

New data from on-chain analytics firm Glassnode shows the number of wallets receiving BTC from exchange addresses hit almost 90,000 on Nov. 9.

Bitcoin exchange receiving addresses chart. Source: Glassnode
Bitcoin exchange receiving addresses chart. Source: Glassnode/ Twitter
Bitcoin exchange reserve chart. Source: CryptoQuant
BTC balance on exchanges chart. Source: Coinglass
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

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Latest comments

Could someone get out all the scams above ?
for real
I'm starting to buy crypto now - got out at the top last november - now starting to buy at the bottom again - and keeping it in my cold storage wallet off exchanges once bought - I've been doing this for three crypto winters now and have made over 10 million USD - so if you know what you're doing, you can make a fortune - BTW, Blackrock is starting to get more and more invested in crypto and once the industry becomes more regulated, vast flows of US corporate money will pour into it - so now and over the next six months is a great time to be dollar cost averaging in.
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