Only a couple of times in history has so much Bitcoin been taken off exchanges.
For Blockware lead insights analyst William Clemente, meanwhile, there were other reasons to keep the faith.Cryptocurrency exchanges were losing BTC reserves at a rate rarely seen before, he noted Wednesday, implying that any rise in demand would compete with a rapidly-dwindling supply, boosting price performance further.alongside data from on-chain analytics firm Glassnode.
Glassnode's net position change indicator tracks both upwards and downwards changes in balances on 18 exchanges.Exchange withdrawal spikes are a much debated phenomenon, andThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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