PiCK
Bitcoin Records 2,721 BTC Net Outflow From Major Exchanges in Past Week as Funding Rates Turn Neutral
Summary
- It reported a net outflow of 2,721.19 BTC from centralized exchanges over the past seven days.
- During the same period, Bithumb recorded a net outflow of 6,058.26 BTC and Kraken posted a net outflow of 3,470.62 BTC.
- As Bitcoin posted sharp gains, funding rates at major CEXs and DEXs were neutral.
Forecast Trend Report by Period
Bitcoin recorded a net outflow of more than 2,700 BTC from centralized exchanges over the past week. As the token surged this week, funding rates at major exchanges returned to neutral.
BlockBeats, citing CoinGlass data, reported on August 22 that centralized exchanges posted a combined net outflow of 2,721.19 BTC over the past seven days.
Bithumb recorded the largest net outflow at 6,058.26 BTC, while Kraken saw 3,470.62 BTC leave the platform. The total net outflow across exchanges was smaller than those individual figures because other venues posted net inflows of Bitcoin.
Funding rates across major centralized exchanges and decentralized exchanges were broadly neutral as Bitcoin held on to this week's sharp gains.
Funding rates are fees exchanged between long and short traders to keep perpetual futures prices aligned with spot prices. Higher funding rates generally indicate heavier long positioning, while lower rates suggest a stronger bias toward shorts.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.