After six months of Bitcoin exchange withdrawals outpacing deposits, a reversal occurred this month, signaling a change in holder behavior.
The exchange net flow, which measures the difference between Bitcoin deposits and withdrawals on exchanges, turned positive at the beginning of November, indicating a renewed interest in exchange activities among Bitcoin holders.
This shift is particularly significant given the negative inflows that persisted from May 20 to Oct. 31, suggesting a period where holders were more inclined to store their Bitcoin off exchanges, possibly for long-term holding or in anticipation of market recovery. However, this trend reversed in November, with the exchange net position change showing a distinct increase in Bitcoin being moved to exchanges. This influx peaked on Nov.19, when a staggering 33,854 BTC were deposited onto exchanges. Such a substantial spike can often be interpreted as a sign of holders preparing to sell or trade their Bitcoin, possibly due to
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