{"id":431460,"date":"2022-04-14T09:51:32","date_gmt":"2022-04-14T06:51:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\/"},"modified":"2022-04-14T09:51:32","modified_gmt":"2022-04-14T06:51:32","slug":"bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\/","title":{"rendered":"# Bitcoin retains $41K as BTC exchange withdrawals match record 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-6a37354b2eebb\" 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-6a37354b2eebb\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\/#%E2%80%9D_Bitcoin_retains_41K_as_BTC_exchange_withdrawals_match_record_levels_%E2%80%9C\" >&#8221; Bitcoin retains $41K as BTC exchange withdrawals match record levels &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\/#40500_now_the_level_to_hold\" >$40,500 now the level to hold<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\/#Exchange_withdrawals_heat_up\" >Exchange withdrawals heat up<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_retains_41K_as_BTC_exchange_withdrawals_match_record_levels_%E2%80%9C\"><\/span>&#8221; Bitcoin retains $41K as BTC exchange withdrawals match record levels &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) held on to fresh gains on April 14 after a rebound in line with Wednesday\u2019s Wall Street open flipped the mood.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/53e6d6e4-0272-4068-9e3f-1892bac8645f.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=\"40500_now_the_level_to_hold\"><\/span>$40,500 now the level to hold<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\/?exchange=BINANCE\">TradingView<\/a> showed BTC\/USD still trading above $41,000 Thursday, having reclaimed the $40,000 mark during the move higher.<\/p>\n<p>\u201cSo far so good, I expected a move to 41k but I doubt about going for an extra leg down to the green box (blue),\u201d popular trader Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1514307438262067208\">commented<\/a> overnight alongside a chart with near-term price targets. <\/p>\n<blockquote><p>\u201cComing hours a bit more up, followed by a correction. Retest of 40.5k and when that holds, we&#8217;ll go for 42-43k (white). Lose 40.5k and we&#8217;ll go for green box.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/99352290-d15a-444d-b902-f21fdaa57e53.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart. Source: Crypto Ed\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>$40,500 showed no signs of falling at the time of writing, with volatility ebbing into Thursday and Bitcoin seeing no major threat to its bounce.<\/p>\n<p>Zooming out, others took the opportunity to argue that despite the lack of bullish sentiment, Bitcoin itself was far from bearish this year.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> has been in an uptrend on the daily time frame for nearly 3 months: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/N3EVgVsj27\">pic.twitter.com\/N3EVgVsj27<\/a><\/p>\n<p>\u2014 Matthew Hyland (@MatthewHyland_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1514387005039423492?ref_src=twsrc%5Etfw\">April 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The lower the time preference, the less cause for panic \u2014 year to year, fellow analyst TechDev demonstrated, Bitcoin had more than a passing resemblance to traditional market behavior, even after dropping over 50% from November&#8217;s all-time highs.<\/p>\n<p>In focus this month was a similar chart pattern between Bitcoin now and the Dow Jones from the start of the 1990s.<\/p>\n<p>&#8220;Times change. Assets change. Macro aggregate human behavior usually doesn&#8217;t,&#8221; TechDev <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1514356397051367424\/photo\/1\">summarized<\/a>.\u00a0<\/p>\n<p>Bitcoin&#8217;s stocks correlation is nonetheless a cause for concern for some, with a drawdown tipped to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.space\/articles\/14507\">impact price significantly<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_withdrawals_heat_up\"><\/span>Exchange withdrawals heat up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For Blockware lead insights analyst William Clemente, meanwhile, there were other reasons to keep the faith.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 4\/13: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE<\/em><\/strong><\/p>\n<p>Cryptocurrency exchanges were losing BTC reserves at a rate rarely seen before, he noted Wednesday, implying that any rise in demand would compete with a rapidly-dwindling supply, boosting price performance further.<\/p>\n<p>\u201cOn only 3 other occasions have we ever seen Bitcoin withdrawn from exchanges at this rate,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1514253794791641098\">wrote<\/a> alongside data from on-chain analytics firm Glassnode.<\/p>\n<p>Glassnode&#8217;s net position change indicator tracks both upwards and downwards changes in balances on 18 exchanges.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/537bddd7-ca8a-4283-9bc5-9bc2fa216a03.png\"><figcaption style=\"text-align: center;\"><em>Exchange net position change annotated chart. Source: William Clemente\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Exchange withdrawal spikes are a much debated phenomenon, and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheRealPlanC\/status\/1511154010518171652\">excitement<\/a> among pundits has increased this year in line with accelerating demand.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\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>\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\/bitcoin-retains-41k-as-btc-exchange-withdrawals-match-record-levels\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin retains $41K as BTC exchange withdrawals match record levels &#8220; Bitcoin (BTC) held on to fresh gains on April 14 after a rebound in line with Wednesday\u2019s Wall Street open flipped the mood. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $40,500 now the level to hold Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDE1MjJkYjEtNGM5NS00MDYyLTk4ZDUtYTdkNmRhNmI5ZDc2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-431460","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\/431460","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=431460"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431461"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}