Quick Take
On Nov. 7, Bitcoin broke above $35,000, triggering substantial movement within crypto exchanges. Data from Glassnode showed it was one of the largest single-day inflows this year, with exchanges witnessing a total of $370 million in inflows. This indicates a significant spike in investors willing to trade or sell their Bitcoin holdings at this price point.
Graph showing the net transfer volume to and from exchanges from April to November 2023 (Source: Glassnode)
Further analysis showed some exchanges saw more activity than others. Bitfinex recorded a substantial inflow of almost $160 million, the majority of it coming from a single large holder, or ‘whale’.
Graph showing the net transfer volume to and from Bitfinex from April to November 2023 (Source: Glassnode)
Bithumb and Crypto.com also reported inflows of $40 million and $60 million, respectively, the latter again coming from a single large whale.
Graph showing the net transfer volume to and from Crypto.com from Apri
We współpracy z: https://cryptoslate.com/insights/bitcoins-surge-past-35000-sparks-massive-370m-inflow-to-exchanges/
