Bitcoin Exchange Inflows Increase during Market Correction

In a major turnaround, Bitcoin exchanges saw significant inflows during the last 7 days as large crypto addresses started moving digital assets from wallets to trading platforms. According to Santiment, almost 0.52% of the overall Bitcoin supply has returned to exchanges in just one week.

A rise in the supply of Bitcoin on prominent crypto trading platforms has played a major role in its price dip. The world’s most dominant digital asset is now down by more than 20% in the past 7 days.

“Exchanges have seen a massive 0.52% of Bitcoin's supply returning to exchanges in just a week. With high volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term and polarizing perspectives toward BTC during this pullback, this is the fastest rise of supply returning to exchanges in 16 months,” Santiment highlighted.

Over the last two years, digital exchanges have seen a consistent decline in overall Bitcoin supply on their respective platforms. On Coinbase, the BTC balance dipped by almost 36% in the past 24 months.

Bitcoin Supply in Loss

Bitcoin's price is now trading down by nearly 55% from its all-time highs. As a result of BTC’s recent market correction, the total BTC supply in profit has decreased by nearly 10%. The recent data posted by Glassnode shows that the decline in the percentage of Bitcoin’s profitable supply has been one of the worst in its history.

“As prices dip, we have now seen this scenario largely play out, and an additional 10% of the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term network did indeed fall into an unrealized loss. All three metrics declined from 72% to between 60% and 62% in profit. These levels are [coincidental] with profitability seen in the late-2018, and late 2019-20 bear markets. However, it should be noted that both instances were prior to the final capitulation flush-out event. As such, further downside remains a risk and would be within the realm of historical cycle performance,” Glassnode explained.