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Monthly Bitcoin Outflow From Major Exchanges Spikes to an All-Time High

Monthly record Bitcoin output from exchanges rose to 179 thousand! According to the data, the amount of Bitcoin (BTC) that investors withdraw from exchanges continues to run to a record. Crypto

According to data from on-chain analytics company Glassnode on November 23, the monthly amount of BTC withdrawals from major exchanges has increased to 179 thousand. Major exchanges witnessed record highs in BTC Crypto

While the FTX collapse continues to have negative effects on the market, users of the exchange are busy withdrawing their assets into unattended wallets. After the crisis in FTX, 3 billion worth of assets were withdrawn from exchanges. Crypto

Glassnode data revealed that as of November 23, there was the largest ever BTC outflow from exchanges in almost a month. According to the data, the tendency to withdraw assets from stock markets still continues. Crypto

Glassnode's "Net Position Change in Exchanges" metric determined the amount of BTC withdrawn from exchanges in the last 30 days as 178,683. This metric covers all exchanges, including FTX. Graph of the net change in BTC positions of exchanges. Source: Glassnode Crypto

On a daily basis, the habits and actions of the stock market customers are quite volatile. The last record amount of BTC withdrawn from exchanges on a daily basis was 140,000 on November 9th. Since then, withdrawals have decreased somewhat. Crypto

Locally, 19 BTC outflows took place on November 19. However, since then, the trend has reversed again and according to Glassnode data, a total of more than 86 thousand BTC has been exited on November 23. Crypto

BTCs stolen in MT.Gox hack transferred to HitBTC CryptoQuant, another on-chain analytics company, warned that most of the BTCs stolen in the 2014 cyberattack on Mt. Total BTC transfer in the table of exchanges

According to Ki Young Ju, CEO of CryptoQuant, Mt. 65 BTC from assets stolen from Gox were transferred to the cryptocurrency exchange HitBTC. Ju shared a post on his official Twitter account and made the following statements: “7 years later, 10 thousand BTC took action today.

All 10 thousand BTC in action are MT. Assets stolen as a result of Gox's cyberattack. Criminals transferred 65 BTC to the HitBTC exchange hours ago.” Ju also invited HitBTC to freeze the said assets.

In a report released on November 23, Chainalysis stated that various exchanges received Bitcoins in private wallets and BTC-e, among others. The movement of old cryptos last September created a panic atmosphere in the market.

This post is based on this twitter thread.

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