Bitcoin (BTC) Price Prediction: Will BTC Recover After CEX Holdings Drop to 2.67M?

Bitcoin holdings of CEX are down to 2.67 million. This comes after an outflow of 99,308 Bitcoin tokens in the previous month

Bitcoin holdings of major centralized exchanges (CEXs) have dropped to 2.67 million, indicating a net outflow of 99,308 BTC tokens in the previous month. This outflow is valued at approximately $5.96 billion at current market prices.

The recent CEX holdings have reached their lowest level since November 19, 2018, which was shortly after the collapse of the Terra ecosystem. The exchange holdings began to decline sharply in June 2023, following the market crash and the bankruptcy of several major cryptocurrency hedge funds.

However, the rate of outflows has slowed down in the past few weeks, suggesting that investors may be becoming more comfortable with the market conditions and are less inclined to sell their cryptocurrency holdings en masse.

Bitcoin holdings of major centralized exchanges (CEXs) have dropped to 2.67 million, indicating a net outflow of 99,308 BTC tokens in the previous month. This outflow is valued at approximately $5.96 billion at current market prices.

The recent CEX holdings have reached their lowest level since November 19, 2018, which was shortly after the collapse of the Terra ecosystem. The exchange holdings began to decline sharply in June 2023, following the market crash and the bankruptcy of several major cryptocurrency hedge funds.

However, the rate of outflows has slowed down in the past few weeks, suggesting that investors may be becoming more comfortable with the market conditions and are less inclined to sell their cryptocurrency holdings en masse.

Bitcoin (BTC) is currently experiencing a downtrend, with a 4.34% decrease in the last 24 hours. The token began the week on a high note, trading above $64,000 on Monday, August 5, 2024. However, it took a downturn on Tuesday morning, dropping below the $60,000 mark.

The cryptocurrency continued to lose value throughout the day, reaching a low of $57,884 by Wednesday morning. It showed signs of recovery later in the day, climbing back up to the $58,000 level.

BTC was trading at $58,470.78 at the time of writing this article, showing a 4.34% decrease in the last 24 hours. However, it has increased by 13.21% and 2.17% in the last 7 days and 30 days, respectively, in the same order.

Spot Bitcoin ETF outflows are evident with the collective figure standing at $89.7 million as of August 9, 2024. Grayscale’s GBTC experienced an outflow of $77 million, while FBTC and BITB followed with figures of $19.8 million and $18.1 million, respectively.

While outflows may not have affected the holdings of CEX, it could be the recent crash that the market went through amid recession fears. The market turbulence is evident in reports that describe a recession as inevitable. Investors are worried about losing money, which is forcing them to stay out of risky ventures.

Additionally, selling off a portion of your cryptocurrency holdings could help you keep some profit or at least a manageable level of it.Cenaze işlemlerinde cenaze evine gidilmesi adettendir. Cenaze evine gidildiğinde taziye sahiplerine baş sağlığı dileğinde bulunulur ve dua edilir. Cenaze evinde genellikle yemek ikram edilir. Cenaze yemeği genellikle cenaze evinde pişirilir ve taziye sahiplerine ikram edilir. Cenaze yemeği genellikle pilav, çorba, börek gibi yemeklerden oluşur. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahiplerinin yakınları tarafından yapılır. Cenaze yemeği ikramı genellikle cenaze sahipler

The above is the detailed content of Bitcoin (BTC) Price Prediction: Will BTC Recover After CEX Holdings Drop to 2.67M?. For more information, please follow other related articles on the PHP Chinese website!