The number of Bitcoins on crypto-asset platforms decreased by 23,000 BTC in just three days.
Bitcoin investors continue to withdraw their assets from crypto asset platforms. Investors pulled 23,000 BTC worth $1.3 billion from these platforms, after Bitcoin has fallen by nearly 20% in the last 7 days.
Crypto analyst Ali Martinez drew attention to the on-chain data of the blockchain analysis company Glassnode. The data revealed a dramatic increase in the number of withdrawals regardless of the drop in Bitcoin. 23,000 BTC was withdrawn from crypto platforms. The total amount withdrawn from the platforms is still significantly larger than the whale purchases. Therefore, there is a possibility that some transfers may be internal. Still, the amount of Bitcoin on the platforms has dropped significantly recently. This is a factor that reduces the selling pressure.
17% of Bitcoin Investors Are Losing
Glassnode revealed that 17% of Bitcoin investors are at a loss with the last drop. In other words, only 83% remained in the snow. But despite this, investors who were at a loss refused to sell their Bitcoins in panic.