"Large-Scale Bitcoin Withdrawal from Exchange the Previous Day...Amounting to $467 Million"
Son Min
Summary
- According to IntoTheBlock, it was reported that Bitcoin worth $467 million was withdrawn from the exchange.
- The accumulation of Bitcoin leads to a decrease in supply within the exchange, which is interpreted as a positive signal for price increases.
- It was reported that the current Bitcoin price is up 1.44% from 24 hours ago, trading at $85,728.
It was revealed that Bitcoin (BTC) worth $467 million was withdrawn from the exchange the previous day.
On the 15th (local time), IntoTheBlock stated via X that "more than $467 million (approximately 667.2 billion KRW) worth of Bitcoin was withdrawn from the exchange the previous day," and described it as "evidence that investors are strongly accumulating Bitcoin."
Typically, when Bitcoin is withdrawn externally, the supply of Bitcoin within the exchange decreases, which is interpreted as a positive signal for price increases.
As of 7:21 PM, Bitcoin is trading at $85,728 on the Binance USDT market, up 1.44% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
