{"id":504186,"date":"2022-10-27T15:45:55","date_gmt":"2022-10-27T12:45:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\/"},"modified":"2022-10-27T15:45:55","modified_gmt":"2022-10-27T12:45:55","slug":"a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\/","title":{"rendered":"# A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance"},"content":{"rendered":"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-6a3cc5f1c46c9\" 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-6a3cc5f1c46c9\" 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ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\/#%E2%80%9D_A_record_55000_Bitcoin_or_over_11_billion_was_just_withdrawn_from_Binance_%E2%80%9C\" >&#8221; A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance &#8220;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\/a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\/#Binance_finishes_the_day_55000_BTC_lighter\" >Binance finishes the day 55,000 BTC lighter<\/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\/a-record-55000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\/#Gains_have_%E2%80%9Cnot_changed%E2%80%9D_Bitcoin_bear_market\" >Gains have \u201cnot changed\u201d Bitcoin bear market<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_A_record_55000_Bitcoin_or_over_11_billion_was_just_withdrawn_from_Binance_%E2%80%9C\"><\/span>&#8221; A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4b69a2fe>Bitcoin (BTC) has seen record buying activity as BTC\/USD returns to six-week highs.<\/p>\n<p>The latest data from on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/btc\/summary\">CryptoQuant<\/a> shows more BTC leaving major exchange Binance in a single day than ever before.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Binance_finishes_the_day_55000_BTC_lighter\"><\/span>Binance finishes the day 55,000 BTC lighter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite warnings that a macro bottom may not yet have occurred, Bitcoin investors have wasted no time sn<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>ing up BTC above $20,000.<\/p>\n<p>The past two days\u2019 gains delivered a sea change to exchange user behavior, with BTC balances dropping across the board.<\/p>\n<p>As the largest exchange by volume, Binance was of particular interest and saw a net position change of over 55,000 BTC on Oct. 26 \u2014 the most ever.<\/p>\n<p>The outflows beat all other buying sprees, including the $17,600 dip in June this year and the March 2020 crash.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/e507b55a-3ab6-477d-bc86-c7035d8c6c10.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange netflow (Binance) chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>CryptoQuant contributor Binh Dang further noted that derivatives platform outflows were setting multi-month records.<\/p>\n<p>\u201cIn 1 year from now, yesterday was the day with the biggest number of coins moved out of the derivatives exchange: 71,579 Bitcoin,\u201d he wrote in one of the firm\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/6359f20b2f5bff4f2958e237-Yesterday-marked-the-most-significant-amount-of-coins-flowing-out-of-the-derivat\">Quicktake<\/a> posts, noting that internal moves could have made up some of the total.<\/p>\n<blockquote><p>\u201cThat number contributes to bringing the outflow of BTC from derivatives exchanges to 94,024 Bitcoin. This is the most significant number since July. This amount has helped drastically reduce the total reserves on derivatives exchanges after spiking since Bitcoin\u2019s price dropped in May.\u201d<\/p><\/blockquote>\n<p>Dang added that such derivatives outflows had once accompanied decreased sell-side pressure on Bitcoin more broadly.<\/p>\n<p>\u201cWhile there is still a lack of on-chain confirmation of Bitcoin bottoming, looking back at the history of late 2018, we will see the difference,\u201d he concluded. <\/p>\n<blockquote><p>\u201cIn the strongest price declines in the two years before 2020, and 2021, each appearance of a strong downtrend on derivative reserve showed a similar decrease in selling pressure. How about this time?\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/99a0dc49-5b04-42cf-9dcc-0ebb67a0e8ce.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin derivative exchange netflow chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Gains_have_%E2%80%9Cnot_changed%E2%80%9D_Bitcoin_bear_market\"><\/span>Gains have \u201cnot changed\u201d Bitcoin bear market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Turning to exchanges\u2019 stock of BTC, from Oct. 25 through Oct. 26, the major platforms tracked by CryptoQuant saw around 42,500 BTC in net outflows.<\/p>\n<p><strong><em>Related:\u00a0Why is the crypto market up today?<\/em><\/strong><\/p>\n<p>Unlike with Binance, cross-platform position change did not set a global record, with June remaining higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/de673baf-a6b3-4b94-b386-687f6afd3c6c.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange netflow chart. Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Summing up, fellow CryptoQuant contributor IT Tech warned that the good times may not last long. The United States Federal Reserve meeting on interest rates could deliver an unwelcome pivot.<\/p>\n<p>\u201cFor me it could mean that is some kind of fake pump before FOMC meetings 2.11.2022,\u201d he\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/quicktake\/6358de992f5bff4f2958e056-Bitcoin-whos-making-the-pump\">wrote<\/a>\u00a0in a further Quicktake. <\/p>\n<blockquote><p>\u201cDXY is going down and helped S&amp;P500 and Bitcoin grown up. Be careful because we are still in Bear market and one small pump not changed this.\u201d<\/p><\/blockquote>\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\/a-record-55-000-bitcoin-or-over-1-1-billion-was-just-withdrawn-from-binance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; A record 55,000 Bitcoin, or over $1.1 billion, was just withdrawn from Binance &#8220; Bitcoin (BTC) has seen record buying activity as BTC\/USD returns to six-week highs. The latest data from on-chain analytics firm CryptoQuant shows more BTC leaving major exchange Binance in a single day than ever before. Binance finishes the day 55,000&#8230;<\/p>\n","protected":false},"author":1,"featured_media":504187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYzg3YzA5OTUtZmIyOC00MzYyLWE2MDYtZWNlZGMxNzc0MzFhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74862,74937,74860,73785],"class_list":["post-504186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504186","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=504186"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/504186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/504187"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=504186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=504186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=504186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}