Bitcoin whales step back as regular transactions surge to record heights, defying market fluctuations and showcasing the strength of retail participation.
whale transactions over the past few months. Notably, the inflow of BTC to exchanges from whales has been remarkably quiet this year, with a current transfer volume of $187 million. Compared to the peak inflow value of $1.82 billion, there has been a striking decline of 85.4%, highlighting the severity of the reduction in whale transactions.
Furthermore, this decline has consequently resulted in a decrease in the overall BTC balance on exchanges. According to theexchange balance metric, the current balance was at its lowest point. It had approximately 2.3 million BTCs held across all exchanges. Furthermore, this translated to the lowest percentage balance on exchanges based on the current exchange balance metric, which stood at around 11.8%.
balance on exchanges, Bitcoin has maintained a healthy flow of activity across different exchanges. The flow metric, which monitors BTC’s daily deposits and withdrawals on exchanges, showed notable inflows and outflows.However, as of this writing, there had been more withdrawals than deposits observed on various exchanges. The total inflow as of this writing exceeded 22,000 BTC, while the outflow surpassed 31,000 BTC.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Does another Bitcoin crash seem likely?Multiple analyses suggested that the chances of a further decline in BTC’s price were high. Market sentiment around BTC was also bearish.
Read more »
Are BTC miners back on their feet? This data suggests…Bitcoin miner holdings begin to increase. Miner revenue generated surges as well. Optimism is shared by traders, majority of which, have gone long on BTC.
Read more »
What to expect as BNB nears $300-levelBNB's price prospects above the $300 psychological level is under threat as BTC remains below $26.6k.
Read more »
How MATIC holders can re-enter at these levelsPolygon [MATIC] rallies towards a key range high as BTC struggles to reclaim the $26.6k level. Is the recovery sustainable?
Read more »
Bitcoin: These holders are selling at a loss and that means…When the exchange inflow bias was scrutinized, a stark difference emerged between the short-term holders and long-term holders of BTC.
Read more »
Bitcoin May 26 daily chart alert - Downtrend is the bears' friend
Read more »