Bitcoin flowing out from exchanges

Hodlers are withdrawing their coins from exchanges en masse as the perceived counterparty risk increases
Source: CoinMetrics

Monday saw 123,000 bitcoin withdrawn from exchanges - the highest number since March 2020. However, it’s important to remember that this metric can be a bit unreliable as some new exchange addresses can go undetected by the data providers for a while, and later show to be internal movements and not real outflows.

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