July 25, 2021

Over 310,000 bitcoins withdrawn from exchanges after Black Thursday

According to the analysis company Glassnode, users have withdrawn from exchanges over 310,000 bitcoins since March of the collapse of the market, called "Black Thursday".

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Glassnode emphasized that this is the longest observed period of cryptocurrency outflow from centralized trading floors.

The largest number of bitcoins during this time was withdrawn from wallets:

  • Bitfinex - 126,845 BTC;
  • Huobi - 95,496 BTC;
  • BitMEX 95 438 BTC.

Earlier, company experts noted that the trend of withdrawing bitcoin from exchanges was clearly manifested in April. The process slowed down only in the hours around the halving on May 11th.

Over 310,000 bitcoins withdrawn from exchanges after Black Thursday

The volume of bitcoins on exchange wallets. Source: Glassnode

In the very first days after the event, the outflow amounted to 23,000 BTC.

Recall that last week, bitcoin-kits removed 17,320 BTC from exchanges in just a few hours.