Although the supply of BTC on most cryptocurrency exchanges has been on the decline since July 2021, the four major cryptocurrency exchanges, primarily Binance and FTX, continued to record significant increases in BTC inflows.
Glassnode Data Attracts Attention
Net outflows of 46,000 BTC have been recorded from all cryptocurrency exchanges since July 2021. Only Binance, Bittrex, Bitfinex and FTX saw net positive inflows of 207,000 Bitcoin (BTC), according to data from the March 7 release of blockchain analytics firm Glassnode. During the same period, net outflows from all other tracked exchanges totaled 253,000 BTC. Glassnode stated that these entries in the stock markets may be a reason for the uncertainty in the markets and the recent developments.
The biggest change in stock markets since July 2021 has occurred in FTX and Huobi. The BTC supply on FTX has more than tripled to 103,200, while the BTC supply on Huobi has slumped from 00,000 BTC to 12,300 BTC since March 2020.
Latest Situation in the Market
The leading cryptocurrency Bitcoin (BTC) has fallen again with the impact of the news that US President Joe Biden will sign a decree that will outline the crypto money regulations within the week. After pinning the price levels of $ 37,170 during the day, Bitcoin started trading at the price levels of $ 38,300 after the last price movements it recorded. Ethereum, on the other hand, instantly touched the price levels of $ 2,445 with the effect of the news and the bearish trend in the market.