{"id":515250,"date":"2022-11-24T14:19:19","date_gmt":"2022-11-24T11:19:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales\/"},"modified":"2022-11-24T14:19:19","modified_gmt":"2022-11-24T11:19:19","slug":"bitcoin-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales\/","title":{"rendered":"# Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC sales"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2d8e7f134e6\" 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-6a2d8e7f134e6\" 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-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales\/#%E2%80%9D_Bitcoin_exchanges_see_180K_BTC_supply_decrease_amid_Mt_Gox_BTC_sales_%E2%80%9C\" >&#8221; Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC sales &#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-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales\/#Major_exchanges_see_record_BTC_withdrawals\" >Major exchanges see record BTC withdrawals<\/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-exchanges-see-180k-btc-supply-decrease-amid-mt-gox-btc-sales\/#HitBTC_gets_Mt_Gox_hack_deposit\" >HitBTC gets Mt. Gox hack deposit<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_exchanges_see_180K_BTC_supply_decrease_amid_Mt_Gox_BTC_sales_%E2%80%9C\"><\/span>&#8221; Bitcoin exchanges see 180K BTC supply decrease amid Mt. Gox BTC sales &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5129e2ea>Bitcoin (BTC) exchanges may have just seen the largest exodus of user funds ever, data suggests.<\/p>\n<p>Data from on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=distribution.ExchangeNetPositionChange&amp;s=1315785600&amp;u=1669248000&amp;zoom=\">Glassnode<\/a> shows that on Nov. 23, major exchanges were down almost 179,000 BTC in monthly withdrawals.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_exchanges_see_record_BTC_withdrawals\"><\/span>Major exchanges see record BTC withdrawals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With FTX contagion still in the air, exchange users have been busy withdrawing funds to noncustodial wallets.<\/p>\n<p>As Cointelegraph reported, $3 billion worth of cryptocurrency left major platforms in the im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te aftermath of FTX imploding.<\/p>\n<p>That trend is ongoing, Glassnode shows, with its data capturing the largest-ever decrease in exchange BTC reserves for the 30 days to Nov. 23.<\/p>\n<p>Glassnode\u2019s Exchange Net Position Change metric puts the 30-day change of the BTC supply held in exchange wallets at -178,683 BTC. The metric covers 20 exchanges, including FTX.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/2d6c5af8-5028-440c-8a16-0548a831dc40.png\"><figcaption style=\"text-align: center;\"><em>Exchange BTC net position change chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>On a day-to-day basis, exchange user habits remain volatile. After seeing nearly 140,000 BTC in daily outflows on Nov. 9 alone, exchanges processed less in withdrawals, with a local low of under 19,000 BTC recorded for Nov. 19.<\/p>\n<p>Since then, however, the trend has reversed, and Nov. 23 outflows totaled more than 86,000 BTC, according to Glassnode.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/fe3c2538-f245-4668-aa2c-55c0e9d22974.png\"><figcaption style=\"text-align: center;\"><em>BTC\u00a0total transfer volume from exchanges chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"HitBTC_gets_Mt_Gox_hack_deposit\"><\/span>HitBTC gets Mt. Gox hack deposit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elsewhere, fellow on-chain analytics platform <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/flow-indicator\/exchange-inflow-spent-output-age-bands?exchange=all_exchange&amp;window=DAY&amp;priceScale=log&amp;metricScale=linear\">CryptoQuant<\/a> raised the alarm about a major tranche of BTC from the 2014 hack of exchange Mt. Gox.<\/p>\n<p><strong><em>Related:\u00a0Crypto has survived worse than the fall of FTX: Chainalysis<\/em><\/strong><\/p>\n<p>According to CEO, Ki Young Ju, the stolen BTC is on the move, with 65 BTC sent to exchange HitBTC.<\/p>\n<p>\u201c7-year-old 10,000 $BTC moved today. No surprise, it&#8217;s from criminals, like most of the old Bitcoins. It&#8217;s the BTC-e exchange wallet related to the 2014 Mt. Gox hack. They sent 65 BTC to hitbtc a few hours ago, so it&#8217;s not a gov auction or something,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1595569918988140550\">tweeted<\/a>.<\/p>\n<p>Ki called on HitBTC to freeze funds from the incoming wallet.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/1ce97c9d-0200-4641-8248-ba68b27b931a.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange inflows (BTC last moved at least 7 years ago). Source: CryptoQuant<\/em><\/figcaption><\/figure>\n<p>Separate research from Chainalysis meanwhile noted mass processing of Mt. Gox coins associated with exchange BTC-e, which itself shut down in 2017.<\/p>\n<p>Several exchanges, along with private wallets and others, have received BTC-e bitcoins in recent weeks, it explained in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.chainalysis.com\/reports\/btc-e-bitcoin-transactions-november-2022\/\">blog post<\/a> on Nov. 23.<\/p>\n<p>As Cointelegraph reported, movement of old coins in September also sparked panic, as the Mt. Gox rehabilitation process drew to an end.<\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\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. 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Gox BTC sales &#8220; Bitcoin (BTC) exchanges may have just seen the largest exodus of user funds ever, data suggests. Data from on-chain analytics firm Glassnode shows that on Nov. 23, major exchanges were down almost 179,000 BTC in monthly withdrawals. Major exchanges see record&#8230;<\/p>\n","protected":false},"author":1,"featured_media":515251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWNmODYxZWUtZmI0OC00ZmQ0LTg5YmYtYTJiYmRmNWUyMTg1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,129624,75873,73785],"class_list":["post-515250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-hitbtc","tag-mt-gox","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515250","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=515250"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/515250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/515251"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=515250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=515250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=515250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}