Select Page

Bitcoin (BTC) Exchange Outflows Hit 5-Year High, Address Activity Shoots 30%

Bitcoin (BTC) Exchange Outflows Hit 5-Year High, Address Activity Shoots 30%
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

As Bitcoin (BTC) continues to flirt around $40,000 levels, its fundamentals and on-chain metrics are showing significant improvement. On Wednesday, July 28, the Bitcoin blockchain registered the largest ever net outflows in 5 years since 2016.

On this day, the exchange balance dropped by more than 60,000 Bitcoins in total. This is certainly a bullish indicator as a shortage in supply is likely to drive prices higher.

At the same time, the number of unique entities interacting with the Bitcoin network has surged significantly over the last week! As on-chain data provider Glassnode reports:

“Bitcon has seen a resurgence in Active Entities over the past week, rising by 30% from 250k to 325k active entities per day. This degree of activity was sustained in July 2020 when $BTC prices were around $11.3k in Q2-2020″.

Bitcoin BTC Address Activity1
Courtesy: Glassnode

Whale and Retail Accumulation Continues

While Bitcoin whales have been stacking up major supplies during this consolidation phase, small retail players have also contributed to it. Santiment reports that Bitcoin’s millionaire-tier whale addresses – holding between 100 to 10,000 – BTC has touched a new milestone with a combined holding of 9.19 million.

Since May 2022, these whale addresses have added 170,000 Bitcoins of which a staggering 130,000 comes just in the last 4 weeks. On the other hand, popular market analyst Willy Woo strongly believes that micro-retail investors are playing a crucial role in continuing the bull market. In the latest update, Woo writes:

“A heat map of total coins absorbed by shrimps stacking their sats each day. No signs or a bear market in sight. Shrimps = holders of less than 1 BTC across all of their addresses. Shrimps control the middle and late stages of a bull market”.

Bitcoin BTC Retail Buying
Courtesy: Glassnode

Interestingly, the Bitcoin blockchain has touched another milestone with its total users crossing 114 million for the first time. This is the same number of users the internet had during the dot-com boom of 1997, however, it’s growing at a much faster rate.

The post Bitcoin (BTC) Exchange Outflows Hit 5-Year High, Address Activity Shoots 30% appeared first on Coingape.


Source: Coingape


All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber

Recent Comments