Bitcoin Exchange Holdings Plunge as Investors Withdraw Over 200K BTC in 60 Days

Highlights:

• A total of 204,772 BTC were withdrawn across major exchanges, signaling a market sentiment shift.
• Coinbase saw the largest withdrawal, followed by Binance, which experienced notable outflows.
• U.S. Bitcoin ETFs surged, with $6.7 billion in inflows from November 27-December 18.

Recent data from HODL15Capital reveals significant Bitcoin withdrawals from several crypto exchanges, including Coinbase, Binance, Kraken, and Gemini in the past 60 days. A total of 204,772 BTC have been moved out of these platforms. This shift suggests a change in market sentiment.

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Coinbase saw the largest Bitcoin outflow, losing 86,316 BTC. Despite this, the exchange still holds 740,491 BTC. Binance also saw significant outflows, shedding 42,865 BTC. As a result, Binance’s current balance stands at 558,827 BTC. Kraken saw a decrease of 13,076 BTC. Gemini lost 10,188 BTC, while Upbit withdrew 6,024 BTC.

Platforms like Bitfinex and Robinhood also saw reductions in their Bitcoin holdings. Bitfinex lost 9,023 BTC, while Robinhood withdrew 2,100 BTC. These withdrawals have contributed to a decline in the total Bitcoin held across all exchanges. The current total now stands at 2,435,446 BTC.

Investors pulled 204,000 Bitcoin from exchanges in 60 days 👇 pic.twitter.com/n0whBLP9iY

— HODL15Capital 🇺🇸 (@HODL15Capital) December 19, 2024

The drop in Bitcoin’s exchange holdings matches overall market movements. Bitcoin’s price changed over the previous day. Bitcoin opened at $104,750 but faced downward pressure throughout the day. By midnight, it reached a low of $99,000. As of now, the price is $101,381, reflecting a 2.60% decline in value.

Author of Rich Dad, Poor Dad Predicts Bitcoin Will Hit $350k by 2025

Robert Kiyosaki, author of Rich Dad, Poor Dad, has urged investors to buy Bitcoin now. He predicts Bitcoin will reach $350k by 2025. Kiyosaki emphasizes Bitcoin’s democratic nature and suggests buying even 1/2 a satoshi. He believes this will benefit people when Bitcoin’s price skyrockets.

TRUMP 1st BITCOIN PRESIDENT

BITCOIN to $350k in 2025

OWN more BITCOIN in 2025

— Robert Kiyosaki (@theRealKiyosaki) December 18, 2024

Bitcoin ETFs See Massive Surge with Record Inflows

U.S. spot Bitcoin ETFs have been surging, with high inflows for 15 days straight. The total inflows have exceeded $6.7 billion from November 27 to December 18. On December 5, Bitcoin ETFs saw a record inflow of $766.66 million.

There was a surge in Bitcoin ETFs, coinciding with Bitcoin breaking the $100,000 mark for the first time. This triggered increased trading activity. Total assets under Bitcoin ETFs rose to $115.78 billion from $104.32 billion.

The increase in Bitcoin’s price was driven by factors like rising geopolitical tensions and former President Donald Trump winning the 2024 U.S. presidential election. These factors have contributed to the growth of Bitcoin ETFs.

Bitcoin Mining Machine Prices Rise 30% Amid Surge in Demand

As Bitcoin’s price continues to rise, demand for mining machines has surged. This is especially true in Shenzhen, China, where models like the Antminer S21 have increased in price by 30% compared to last year.

Bitcoin recently soared to $108,000, and experts predict it could reach $200,000 by next year. This surge has attracted miners from countries like Russia, the U.S., and Canada, who are rushing to buy mining equipment. The Huaqiangbei market in Shenzhen has seen a significant spike in mining machine sales. Some models are already sold out. Vendors report that foreign buyers from Russia, Ethiopia, the U.S., and Canada buy in bulk, sometimes hundreds or thousands of units.

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