$800 million worth of bitcoins withdrawn from exchanges
The rise in the price of the first cryptocurrency caused an increased interest in bitcoins. Investors are massively withdrawing digital assets from exchanges to cold wallets.
Recall that Bitcoin suddenly rose above $40,000. This came as a surprise to the market, since all technical indicators and previous attempts by bull traders to change the downtrend were unsuccessful.
Therefore, while everyone was betting on a further fall in the price of BTC below $30,000, it turned out that not everything is so sad. Stocks of bitcoin on centralized exchanges were constantly falling as traders were not selling the cryptocurrency as actively, and the outflow of BTC was constant.
This is a positive signal for the market. Since the pressure of sellers is much less than at the time when the cryptocurrency is massively transferred to exchanges. This means that despite the negative market dynamics for several months, most investors do not plan to sell their assets in the near future.
At the time of publication of the material, bitcoin is trading at $41.57 thousand. The price of the cryptocurrency remains volatile.
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