Highest bitcoin withdrawal on exchanges in 5 weeks

The crypto exchanges are seething. With over 25,000 Bitcoin sold, the biggest BTC sell-off in five weeks occurred.

  • Crypto exchanges saw the highest BTC withdrawal in five weeks from April 13 to 14, analytics service Santiment announced in a tweet.
  • According to the report, a total of 25,878 bitcoin were “moved by the exchanges.”
  • This was “the largest difference between outflow and inflow in five weeks,” it said.
  • “Historically, large amounts of BTC withdrawn from exchanges cause prices to rise when the pattern continues for a few days,” Santiment said.
  • The buying frenzy has bounced off the bitcoin price so far.
  • Bitcoin is down 1.7 percent on the day, and the cryptocurrency is down about seven percent for the week.

Picture by Pixabay

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