{"id":531431,"date":"2022-12-26T12:23:34","date_gmt":"2022-12-26T09:23:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\/"},"modified":"2022-12-26T12:23:34","modified_gmt":"2022-12-26T09:23:34","slug":"bitcoin-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\/","title":{"rendered":"# Bitcoin exchange withdrawals sink to 7-month low as users forget FTX"},"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-6a3307133d774\" 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-6a3307133d774\" 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-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\/#%E2%80%9D_Bitcoin_exchange_withdrawals_sink_to_7-month_low_as_users_forget_FTX_%E2%80%9C\" >&#8221; Bitcoin exchange withdrawals sink to 7-month low as users forget FTX &#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-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\/#Still_not_your_keys_still_not_your_coins\" >Still not your keys, still not your coins?<\/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-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\/#BTC_supply_increasingly_stationary\" >BTC supply increasingly stationary<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_exchange_withdrawals_sink_to_7-month_low_as_users_forget_FTX_%E2%80%9C\"><\/span>&#8221; Bitcoin exchange withdrawals sink to 7-month low as users forget FTX &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-71d2d00b>Bitcoin (BTC) exchange users have forgotten all about the FTX scandal this Christmas, data shows.<\/p>\n<p>According to on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&amp;category=&amp;m=transactions.TransfersVolumeFromExchangesSum&amp;s=1650113883&amp;u=1672012800&amp;zoom=\">Glassnode<\/a>, exchange outflows have now hit their lowest levels in over six months.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Still_not_your_keys_still_not_your_coins\"><\/span>Still not your keys, still not your coins?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Bitcoin volatility sets a new record low in what is being <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IncomeSharks\/status\/1607108864352358400\">called<\/a> \u201cDo Nothing December,\u201d exchange users\u2019 habits are also rapidly adjusting to the current climate.<\/p>\n<p>After seeing an overwhelming surge in light of the FTX meltdown, BTC withdrawals from exchange wallets have entirely reversed the spike which began around six weeks ago.<\/p>\n<p>Having hit a peak of 142,788 BTC on Nov. 14, outflows from the trading platforms tracked by Glassnode have declined over ten times.<\/p>\n<p>On Dec. 25, the latest date for which numbers are available, total exchange outflows came in at just 9,352 BTC \u2014 a drop of 93.5%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/1074f8d5-3a38-4bfc-9d49-32d10da5b631.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange outflows chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>More than that, the last time that outflows were so low on a daily basis was seven months ago in May.<\/p>\n<p>As Cointelegraph reported, 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, exchange reserves declined by over $3 billion in a single week.<\/p>\n<p>Exchanges\u2019 BTC balance stood at 2.252 million BTC on Christmas Day, a drop of nearly 21% versus the 2022 peak of 2.845 million BTC from January.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/38d41d01-6544-4af0-8e9b-5526b7951a44.png\"><figcaption style=\"text-align: center;\"><em>Exchange BTC balance chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"BTC_supply_increasingly_stationary\"><\/span>BTC supply increasingly stationary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Record low volatility is meanwhile showing in on-chain data, with hodlers reluctant or in little need of moving coins.<\/p>\n<p><strong><em>Related:\u00a0BTC price levels to watch as Bitcoin limps into Christmas under $17K<\/em><\/strong><\/p>\n<p>Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1607289080764669954\/photo\/1\">confirms<\/a> that unspent transaction outputs (UTXOs) with a lifespan of between one week and one month have fallen to their lowest numbers in 15 months.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/59868485-e7f0-407a-a760-2c8fd0b45d49.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin UTXO annotated chart. Source: Glassnode\/ Twitter<\/em><\/figcaption><\/figure>\n<p>The popular <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/unchained.com\/hodlwaves\/\">HODL Waves<\/a> metric, which groups UTXOs by age, shows a rise in coins which last moved 1-2 years ago over the course of December.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/3882e300-0ff4-49b0-83ac-bfdf1deb4ce8.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin HODL Waves chart (screenshot). Source: Unchained Capital<\/em><\/figcaption><\/figure>\n<p>These now account for over 20% of the total BTC supply.<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\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. 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-exchange-withdrawals-sink-to-7-month-low-as-users-forget-ftx\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin exchange withdrawals sink to 7-month low as users forget FTX &#8220; Bitcoin (BTC) exchange users have forgotten all about the FTX scandal this Christmas, data shows. According to on-chain analytics firm Glassnode, exchange outflows have now hit their lowest levels in over six months. Still not your keys, still not your coins? As&#8230;<\/p>\n","protected":false},"author":1,"featured_media":531432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/ec2f7959-c1e4-4f95-b671-bff3b8bb549f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74860,75917,73785],"class_list":["post-531431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrency-exchange","tag-exchanges","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/531431","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=531431"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/531431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/531432"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=531431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=531431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=531431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}