Spot BTC worth $200M re-enters exchanges on Binance following Genesis bankruptcy news

Definition Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.   Quick Take $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took BTC over $21,000. The transfer is primarily institutional, as it is more than $10 million. With […]

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Definition

  • Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.  

Quick Take

  • $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took BTC over $21,000.
  • The transfer is primarily institutional, as it is more than $10 million.
  • With Genesis filing bankruptcy, it is encouraging to see BTC holding above $20,000.
  • The substantial transfers are coming from Binance, which is sparking market volatility. 
    Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)
    Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)

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