April 17, 2021

BTC investors massively withdraw cryptocurrency from exchanges

BTC investors massively withdraw cryptocurrency from exchanges

According to Glassnode, on against the background of the fall in the price of bitcoin, more and more investors began to withdraw assets from exchanges to their personal wallets.

For digital analysts, this is a bullish signal that investors are preparing to hold their BTC in the long run.

On Thursday, 1,365 BTC were withdrawn from crypto exchanges in 24 hours, which is the highest figure this year.

Analyst Willie Wu tweeted:

Today we have a new record for bitcoins withdrawn from exchangers. This is a sign that investors are buying low.

Crypto enthusiasts are increasingly using BTC as a hedge against inflation. This inflation is expected to intensify amid new stimulus for the US economy.

The Glassnode entry noted:

The trend of withdrawing and long-term storage of bitcoin is a direct response to the actions of the world central bank in 2020.

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