{"id":310988,"date":"2021-07-29T11:45:05","date_gmt":"2021-07-29T08:45:05","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels\/"},"modified":"2021-07-29T11:45:05","modified_gmt":"2021-07-29T08:45:05","slug":"record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels\/","title":{"rendered":"# Record 57K BTC leave exchanges in one day dropping Bitcoin reserves to pre-crash levels"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ee3208b1be\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ee3208b1be\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels\/#Exchange_balances_shed_57000_BTC\" >Exchange balances shed 57,000 BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels\/#In_search_of_solid_support\" >In search of solid support<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Record 57K BTC leave exchanges in one day dropping Bitcoin reserves to pre-crash levels <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) demanded a $40,000 resistance flip on July as on-chain data revealed large withdrawals from exchanges.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/6dee4921-05ae-4604-8ea0-88581fada6c7.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_balances_shed_57000_BTC\"><\/span>Exchange balances shed 57,000 BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a> showed BTC\/USD rise to challenge the upper end of its trading range once more on Thursday.<\/p>\n<p>The pair had seen a pullback after initially hitting multi-week highs of $40,600 on Bitstamp earlier in the week.<\/p>\n<p>Bottoming out at $38,800, Bitcoin then returned for its latest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to the $40,000 mark, with that level still to be flipped to support convincingly at the time of writing.<\/p>\n<p>Amid concerns over the strength of this week\u2019s rally, data on Thursday nonetheless pointed to genuine demand for BTC at higher prices.<\/p>\n<p>Shared by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bybt.com\/pro\/i\/Balance\">Bybt<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/overview\/full\/474?window=day\">CryptoQuant<\/a>, the data <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to show the largest one-day outflow in at least a year. A total of 57,000 BTC left exchanges in 24 hours.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/945ddf97-baf3-4767-8873-68ef2779ca38.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange net flows chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>With that, exchange balances returned to levels last seen in mid-May, just before a major price correction after Bitcoin began reversing from all-time highs of $64,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/19a3c5fa-adc1-46ca-9685-a787aef745e0.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin balance on exchanges chart. Source: Bybt<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"In_search_of_solid_support\"><\/span>In search of solid support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite this demand, however, market participants remained convinced of the need for a higher low construction on BTC\/USD before any higher levels could fall.<\/p>\n<p><strong><em>Related:\u00a0Bears scattered as Bitcoin hit $40K, but pro traders remain cautious<\/em><\/strong><\/p>\n<p>\u201cI think market needs to go down to put in a HL before continuing up,\u201d popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> trader Pentoshi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1420564384657588225\">summarized<\/a>. <\/p>\n<blockquote><p>\u201cTo put it simply. Been bullish from 29.6k into resistance but today to me signals need to go down for higher low.\u201d<\/p><\/blockquote>\n<p>Exactly how low that higher low will be could be anywhere between $36,000 and $32,500, Cointelegraph reported.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1420656008393789443\/\">Order book data<\/a> from major exchange Binance meanwhile confirmed a narrowing range for spot price, with buyers and sellers encroaching on $40,000 from both sides.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/4b7a95b8-5ac2-4821-9a4c-4b5fc6e21654.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) as of July 29. Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/record-57k-btc-leave-exchanges-in-one-day-dropping-bitcoin-reserves-to-pre-crash-levels\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Record 57K BTC leave exchanges in one day dropping Bitcoin reserves to pre-crash levels &#8221; Bitcoin (BTC) demanded a $40,000 resistance flip on July as on-chain data revealed large withdrawals from exchanges. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Exchange balances shed 57,000 BTC Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD rise&#8230;<\/p>\n","protected":false},"author":1,"featured_media":310989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvOTRhOThhNzMtMTMxNC00OGYyLTlhYzQtMzA4Y2ZjYTY4NmY0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-310988","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/310988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=310988"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/310988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/310989"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=310988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=310988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=310988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}