Data from the last week showed that, on average, 172,700 BTC units were withdrawn in the last month from crypto exchange platforms into the portfolios of investors of nearly all sizes, eclipsing the previous peak set after the June 2022 sell-off.
In addition, total confirmed transactions have rebounded in the past two weeks, after hitting a multi-month high of 246,000 confirmed transactions per day, according to data from Glassnode, a blockchain analytics and metrics company.
Of this total, about 29.2% were exchange related withdrawal transfers (77,100 withdrawals) and 18.2% were exchange deposit transfers (48.1k deposits).
The crisis of withdrawals of funds and the subsequent bankruptcy of FTX on November 8 unleashed a domino effect among numerous crypto companies that had FTX as a creditor or liquidity provider.
What will happen to the price of Bitcoin?
Analyst Titan marked several areas of high liquidity on the change order books. The largest of these, according to comments, is at $13,500. “Although there is liquidity to get around $18,500, $17,200 and $15,500, the largest is lower at $13,500”they stated.
Meanwhile, analytical resource materials indicators calculated the total liquidity of the offering between the spot price and $13,000 as $195 million on the Binance order book.