{"id":314648,"date":"2021-08-03T07:37:49","date_gmt":"2021-08-03T04:37:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-outflows-from-centralized-exchanges-surge-to-100k-btc-monthly\/"},"modified":"2021-08-03T07:37:49","modified_gmt":"2021-08-03T04:37:49","slug":"bitcoin-outflows-from-centralized-exchanges-surge-to-100k-btc-monthly","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-outflows-from-centralized-exchanges-surge-to-100k-btc-monthly\/","title":{"rendered":"# Bitcoin outflows from centralized exchanges surge to 100K BTC monthly"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin outflows from centralized exchanges surge to 100K BTC monthly  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>\n<p>Bitcoin (BTC) outflows from centralized exchanges have surged to their highest level year-to-date, with roughly 40,000 BTC being withdrawn over the past seven days.<\/p>\n<p>According to Glassnode\u2019s Monday \u201cThe Week On-Chain\u201d<em> <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/the-week-on-chain-week-31-2021\/\">report<\/a>, Bitcoin outflows have accelerated to a rate exceeding 100,000 BTC per month for just the third time since September 2019. The on-chain analytics provider estimates that just 13.2% of circulating BTC is currently held on exchanges \u2014 a new low for 2021.<\/p>\n<p>\u201cThis represents a near full retracement of the significant inflow volume observed during the May sell-off,\u201d the report noted.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/1deba9d6-d3f0-47e2-9d37-b385a4af1ec2.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC Exchange Net Position Change. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>Outflows surged to nearly 150,000 BTC monthly at the end of April 2020 following the violent \u201cBlack Thursday\u201d crash that saw crypto prices tumble by more than 50% in less than two days after then-United States President Donald Trump announced a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> ban between Europe and the U.S. in March as the coronavirus pandemic intensified. Despite the aggressive crash, Bitcoin had rebounded by 150% by the end of May 2020, driving heavy accumulation.<\/p>\n<p>Outflows again came close to 150,000 BTC monthly in November 2020 as Bitcoin surged to test its then-record price high of $20,000, with BTC rallying into new all-time highs the following month.<\/p>\n<p>Glassnode notes divergent trends between Coinbase and Binance throughout most of 2021, with Coinbase having experienced significant outflows, while Binance has been the largest recipient of BTC. <\/p>\n<p>However, Binance\u2019s reserves are now beginning to dwindle, with 37,500 BTC (worth roughly $1.5 billion) exiting the exchange over the past week. <\/p>\n<p>Coinbase balances remained steady in June. While the exchange received 30,000 BTC in mid-July, 31,000 BTC was withdrawn from the platform this past week.<\/p>\n<p><strong><em>Related:\u00a0<\/em><\/strong><strong><em>Traders are withdrawing 2,000 BTC from centralized exchanges daily<\/em><\/strong><\/p>\n<p>Looking at the macro sentiment, the on-chain analytics provider referred to its \u201cLiveliness metric\u201d to identify trends in accumulation.<\/p>\n<p>The metric, which measures the ratio of the sum of coin days destroyed and the sum of all coin days ever created, indicates a broad trend of accumulation following May\u2019s im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te sell-off. <\/p>\n<p>\u201cIt seems that HODLing and accumulation is the most likely dominant trend in the on-chain market,\u201d the report concluded.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/885073c8-5b5f-4c57-bb1b-9a2b0776c214.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC Liveliness chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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><\/p>\n<\/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\/bitcoin-outflows-from-centralized-exchanges-surge-to-100k-btc-monthly\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin outflows from centralized exchanges surge to 100K BTC monthly &#8221; Bitcoin (BTC) outflows from centralized exchanges have surged to their highest level year-to-date, with roughly 40,000 BTC being withdrawn over the past seven days. According to Glassnode\u2019s Monday \u201cThe Week On-Chain\u201d report, Bitcoin outflows have accelerated to a rate exceeding 100,000 BTC per&#8230;<\/p>\n","protected":false},"author":1,"featured_media":314649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvOWQ4NmNhY2YtNDYxYi00YTlkLWFiNjAtYWM1NjMzMGQ0NDkxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74860],"class_list":["post-314648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrency-exchange"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314648","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=314648"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/314649"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=314648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=314648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=314648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}