Urgent: The biggest escape from the cryptocurrency market..what does that mean?

Urgent: The biggest escape from the cryptocurrency market..what does that mean?

The amount of bitcoin transferred from cryptocurrency exchanges has reached an all-time high in recent years.

Although the withdrawal of digital assets from cryptocurrency exchanges to anonymous wallets is interpreted as a bullish trend in the market, the regular Bitcoin inflows in recent months have not had a positive impact on the price.

The amount of bitcoin out, which occurred in March, was recorded as the second highest outflow amount seen in the history of cryptocurrencies. Blockchain data shows that BTC outflows continued through April. Market participants see bitcoin balances on cryptocurrency exchanges as an important criterion for understanding investor requirements and sensitivity to savings.

While the data shows that the Bitcoin stock on stock exchanges is down 8.63 percent since the start of the year, it shows outflows of 39 percent since May 2020. Last week saw the biggest daily exit in the last 3 years.

Last month, about 80,000 bitcoins (more than $3 billion on average) were logged out from cryptocurrency exchanges. The highest outflows came from US-based digital exchange Coinbase (NASDAQ:COIN). . When BTC outflows over the last two months are calculated, even though there was a price increase in the previous month, no relationship can be established between the digital money outflow and the price this month. Among the comments made, it is believed that other traditional market risks outweigh the fact that Bitcoin exits were not the only factor affecting the price.

The whales are repositioning at $40,000

Bitcoin has seen a quick recovery after falling below the $40,000 level earlier this week. This week's Bitcoin chart shows a gradual buying below $39,000. As a result of the gradual buying, the bitcoin price has been moving in the range of $41,250 - $41,500 since yesterday evening.

The previous bitcoin price consolidation phase occurred this week in the range of $40,600 – $40,800. The price action continues this week as major investors see a lower