Bitcoin Outflows 🪙💰

Despite the recent market downturn, a total of 31,130 bitcoin departed Coinbase last week, according to Glassnode, the greatest weekly outflow since 2017. While retail traders aren't buying right now, major institutional players are, according to exchange outflows.

Furthermore, the amount of Bitcoin held on exchanges has fallen to 2,519,403 BTC, the lowest level since 2018. Because of the minimal supply on exchanges, holders control the majority of the supply, which means sell-side pressure is declining.

People are booking a space in, Are you one of them?

Thank you for reading!