$200 million worth of spot Bitcoin re-enters exchanges on Binance as news about Genesis filters throughsteemCreated with Sketch.

in thefinancefrontier •  2 years ago 

Market volatility is arising from Binance due to significant purchases and withdrawals of Bitcoin (BTC).

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A breakdown of the net flow of coins into and out of exchanges by the USD value of the transactions.

$200 million worth of Bitcoin (BTC) was transferred back onto Binance on January 20th, a similar amount to January 13th which caused the price to go over $21,000. The transfer is primarily from institutional investors as it is more than $10 million. With the news of Genesis on top last night, this is encouraging to see BTC holding above $20,000. The substantial transfers are coming from Binance, which is causing market volatility.

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2 years ago by

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