in November of 2022 cryptocurrency stock market FTXPanic after the collapse of Binance bitcoin resulted in a large increase in output.
However, the effects of FTX were gradually erased and the sharp outputs seen after FTX were reversed. Binancethe total held in the wallets of BTC amount was a record.
According to the news of Coindesk glassnode, He said that the amount of BTC held on Binance has increased sharply over the past four weeks.
Popular analytics firm Glassnode, which analyzes BTC movements, reported that Bitcoins held in Binance wallets have increased to 52,000 in the last four weeks. BTC increasing 692,880 BTCHe stated that he had reached
Galssnode stated that this increase may be an indication that investors’ trust in centralized exchanges such as Binance is starting to increase again after the FTX collapse.
Evaluating this Bitcoin data from Glassnode Markus Thielen, head of research at Matrixport, He said that the sharp increase in BTCs held on Binance could be bad news for the market.
Speaking to Coindesk, Thielen said:
“Large amounts of Bitcoin moving into exchanges usually means these BTCs are available for sale.
We’ve seen old wallets that haven’t been used for 10 years suddenly wake up and transfer Bitcoin.
This may be a sign that long-term holders of BTC think that $30,000 would be ideal for taking profits.”
After the positive data from the USA, it reached the level of $ 29,460. bitcoin At the time of writing, it continues to trade at $ 29,295.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!