The outflow of funds from crypto exchanges is usually associated with active purchases. The current trend began at the end of July, when the first cryptocurrency went into recovery after falling to $ 28.8 thousand.
The number of bitcoins on cryptocurrency exchanges has dropped to a minimum over the past three years, according to analyst firm CryptoQuant. According to analysts, the current wave of declining stocks of the first cryptocurrency on trading floors began at the end of July, when bitcoin went into recovery after falling to $ 28.8 thousand.
On the night of October 20, the bitcoin rate on the Binance crypto exchange reached a peak since mid-April at around $ 64.4 thousand. The first cryptocurrency approached a historical maximum of $ 64.8 thousand. To update the price record, the asset still needs to rise in price by 0.6%.
As of 10:30 Moscow time, bitcoin is trading at $ 63.9 thousand. Over the past day, the cost of the cryptocurrency has grown by 3%. Its market capitalization exceeded $ 1.2 trillion with daily trading volumes of $ 39 billion, according to CoinGecko.
The outflow of funds from crypto exchanges is usually associated with active purchases. For example, on the evening of May 19, after the bitcoin rate fell by a third per day, to $ 30 thousand, the largest withdrawal of digital coins in a year was recorded. Users withdrew about 175 thousand BTC for $ 7 billion to cold wallets at the exchange rate at that time.