Summary
- It was reported that Bitcoin worth $424 million was withdrawn from exchanges over the past 7 days.
- It was announced that $220 million worth of Bitcoin was withdrawn just yesterday.
- Bitcoin withdrawals are interpreted as a positive signal for price increases due to the reduction in supply.
It has been revealed that Bitcoin (BTC) worth $424 million has been withdrawn from exchanges over the past 7 days.
On the 25th (local time), IntoTheBlock announced on X that "Bitcoin worth $424 million has been withdrawn from exchanges over the past 7 days," adding, "Just yesterday alone, $220 million worth of Bitcoin was withdrawn." They further stated, "This shows investor confidence in Bitcoin."
Typically, Bitcoin withdrawals from exchanges are interpreted as a positive signal for price increases as they reduce the supply of Bitcoin on exchanges.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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