A Record Number of Bitcoin Were Recently Withdrawn From Exchanges

Cointelegraph

Published Jul 09, 2020 04:06PM ET

Updated Jul 09, 2020 05:40PM ET

July 8 set a year-to-date record for the number of net Bitcoin (BTC) withdrawn from custodial exchanges. The onslaught was led by Coinbase.

Yesterday, 20,660 more Bitcoin were removed from exchanges than deposited according to data from Glassnode. This represents 2020’s biggest daily outflow of Bitcoin from exchanges — a behavior pattern that is typically considered bullish.

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