Investors withdraw their Bitcoins from exchanges

Analyzing the data, it seems that after the collapse of crypto lending companies, investors began to slowly withdraw their Bitcoins from crypto exchanges. In its article, Glassnode Analysis firm stated that Bitcoin balance on exchanges has reached the lowest level in four years.

According to the post on Arcane Research’s Twitter account, Bitcoin investors have started to withdraw their assets from cryptocurrency exchanges at full speed. Arcane Research group shared information about the negative situation they have noticed since the beginning of the year. He stated that Bitcoin investors have withdrawn their Bitcoins from exchanges in an unprecedented way following the liquidity crisis at crypto lending companies such as Celsius, Babel Finance earlier this summer.

119 thousand Bitcoins were withdrawn from exchanges in June and 96 thousand in July. In August, 65,000 Bitcoins have been withdrawn from cryptocurrency exchanges so far. Prior to this summer, the largest amount of Bitcoin withdrawn from exchanges totaled 71,000 BTC.

Source: uzmancoin.com

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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.