1 whale withdrew 26000 Bitcoins from Coinbase, marking the largest Bitcoin withdrawal since December 2022.
According to data from Glassnode, 26,000 Bitcoins (BTC) worth about $800 million were withdrawn from Coinbase yesterday.
This is the largest Bitcoin withdrawal from exchanges this year and the largest since December 2022.
Previously, according to an analysis by Santiment, the supply of Bitcoin held on exchanges fell to its lowest level since December 2017 of 5.84%.
The collapse of FTX can be considered as a major cause as many users have lost confidence in exchanges when FTX was one of the top exchanges in the market at that time.
After dropping to a 2-month low at $25800 , Bitcoin (BTC) recovered to $27,500 yesterday, however Bitcoin (BTC) saw a slight correction back in the day. Today.
At the time of writing, Bitcoin (BTC) is trading at $27080, down 1% over the past 24 hours according to data from Binance .