Glassnode: From february 2020 years, BTC was withdrawn from exchanges in the amount $38 billion

Analyst firm Glassnode said, what from the beginning 2020 the supply of BTC on cryptocurrency exchanges has been steadily declining, that is, users are rapidly withdrawing the asset

Glassnode: From february 2020 years, BTC was withdrawn from exchanges in the amount $38 billion

According to the company, during 20 months from cryptocurrency exchanges were withdrawn 617 000 BTC, which is equivalent to the sum $37,97 billion. BTC balance on exchanges decreased from 3,09 million BTC (about $190 billion) as of february 2020 year to 2,47 million BTC (about $152 billion) as of October 2021 of the year. Less, than in two years, the volumes on the sites decreased by 20%.

“BTC balance on exchanges continues to decline and has reached 2,47 million BTC, which has not been observed since August 2018 of the year. From february 2020 years, the average monthly churn is 30 850 BTC per month ", - the company says

Special attention is paid to this indicator., how to change the net position of BTC on exchanges, tracking the 30-day change in BTC volumes in wallets of cryptocurrency exchanges. According to Glassnode, during 2021 the outflow of funds was steady (the exception was May, June and July):

“The current outflow is about 22 000 BTC ($1,35 billion) per month or 71% from the average since February 2020 of the year"

Another important indicator – asset volumes of long-term holders (keep BTC motionless for at least 5 Months). According to Glassnode, for the latest 7 months, a group of investors have accumulated an asset for a huge amount of $149 billion:

“During an unusual accumulation period since March, long-term holders have increased their wallets by 2,42 million BTC "

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