While the level of Bitcoin (BTC) on crypto currency exchanges fell to the lowest level of the last 5 years, the eyes were turned to the reasons.
of the US Securities and Exchange Commission (SEC) Binance And to Coinbase of the lawsuits in the shadow Bitcoin amount on exchanges last of 5 years fell to its lowest level.
Taken from on-chain analytics platform Santiment data According to the last number of Bitcoins on exchanges 2018 in the year had seen such a low level. In addition, if the Bitcoin volume on the exchanges reaches its peak, 2020 in the year 16% ratio was reached.
Approximately Continuing to decline for 3 years Bitcoin liquidity on exchanges with SEC lawsuits to 6.4% has fallen to a remarkable level.
What does it mean?
Cryptocurrency market commentators open to Binance and Coinbase lawsuits He sees it as one of the biggest reasons for the decrease in the number of Bitcoins on exchanges. In line with the general opinion, possible sanctions worried investors, their assets from stock exchanges special to their wallets may have taken.
On the other hand, according to some market commentators, the decrease in Bitcoin liquidity comes with it. volatile price movements can also bring. In such low volume periods, a large amount of simple transactions by a single user will affect prices. can result in serious fluctuations. Even in Binance’s global market, BNB/USDC Due to the illiquidity on the parity, the price quickly increased. After losing nearly 75% of its value then back to normal band.
Usually, the amount of Bitcoin on exchanges is low is a positive situation. in the stock markets bitcoin the amount is low It is expected that there will be less selling pressure for the market in general.
Market makers on Binance.US came to the fore by withdrawing a significant amount of assets from the stock market after the lawsuit.
