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Friday saw the sixth biggest outflow of Bitcoin from exchanges YTD

CoinSurges
By CoinSurges

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Quick Take

  • May 5 saw the sixth biggest outflow of Bitcoin from exchanges since the start of the year.
  • Roughly $240 million worth of Bitcoin was driven primarily by large whales, denoted by the red and orange colors.
  • This is supported by the accumulation trend score by cohort, which denotes that whales that hold over 10,000 Bitcoin or more continue accumulating and have been for over a month.
  • While all other cohorts are still in a state of distribution.
Accumulation trend score by cohort: (Source: Glassnode)
Accumulation trend score by cohort: (Source: Glassnode)
Net Volume: (Source: Glassnode)
Net Volume: (Source: Glassnode)

The post Friday saw the sixth biggest outflow of Bitcoin from exchanges YTD appeared first on CryptoSlate.

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