The withdrawal of crypto assets from exchanges to anonymous wallets is interpreted as a bullish perception in the market. However, the regular Bitcoin exits in recent months have not yet had a significant effect on the price.

The Bitcoin exit figure, which took place last month, was the second highest amount of exits seen in the history of crypto money. According to Blockchain data, BTC outflows from exchanges continue in the current month.

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The biggest daily output of the last 3 years has been seen

Market participants see Bitcoin balances on exchanges as an important criterion for understanding investors' demands and savings sensitivity. While the data shows that the Bitcoin balance on the stock exchanges has decreased by 8.63 percent since the beginning of the year, it shows an outflow of 39 percent since May 2020. Last week, the biggest daily output of the last 3 years was seen.

In the last month, about 80,000 Bitcoins (over $3 billion on average) have been registered from exchanges. The highest exits came from the US-based crypto exchange Coinbase.

When the last 2 months of BTC outflows are evaluated, although there was a price increase in the previous month, a relationship could not be established between the crypto money exits and the price this month. Among the comments made, it is thought that other traditional market risks outweighed the fact that BTC exits were not the only criterion on price.

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Bitcoin price is in the band of 41,250 – 41,500 dollars

Bitcoin saw a rapid recovery after falling below the $40,000 level earlier this week. This week's Bitcoin chart shows gradual buying below $39,000. As a result of these gradual purchases, the Bitcoin price has been moving in the band of 41,250 - 41,500 dollars since yesterday evening.

The previous cumulative phase of Bitcoin price this week took place in the $40,600 – $40,800 range. This week's price action continues as big investors see bottom prices as buying opportunities, as views that losses below $40,000 may increase.

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Bitcoin volatility at 15-month low

Data from analytics firm Arcane Research shows that low levels of volatility could prepare Bitcoin for a new rally or a rebound to previous highs. The research firm noted that Bitcoin's 30-day volatility has reached its lowest level of the year. The last time this metric was found at current levels was in November 2020. During this period, the Bitcoin bear market bounced off the price action, rising from $3,000 to $16,000. A drop in volatility can be an indicator of future performance. Arcane Research noted the following about BTC's volatility and why it's signaling more market activity;

   “Bitcoin's sluggish price action over the last month has caused BTC's 30-day volatility to hit its lowest levels since November 5, 2020 on Saturday, April 16. The low volatility in fall 2020 lasted for about three months from late September to early November, but Such a prolonged period of low volatility is unusual."