A record outflow of BTC from exchanges may be a harbinger of the end of the crypto winter.
In November 2022, members of the crypto community withdrew a record amount of bitcoins (185.7 thousand BTC) from the crypto exchange. The indicator turned out to be 30% higher than the previous anti-record recorded in June 2022. This month, crypto investors withdrew 125.7 thousand bitcoins from the exchanges. October 2020 took third place in terms of BTC outflow from trading platforms.
The leading position in terms of the inflow of bitcoins to the exchanges, at the same time, is occupied by the months preceding the updаte of the absolute maximum of the cryptocurrency. March 2017 is number one. After 8 months, in December 2017, bitcoin updated its cyclical high near the level of $20,000. Statistics also show that crypto investors actively introduced BTC to exchanges in November and December of the same year.
It is important to clarify that market participants tend to transfer coins to trading platforms from cold storage. This behavior of investors may indicate their willingness to sell cryptocurrency. The withdrawal of coins from crypto-exchanges is, on the contrary, a signal that market participants are stocking up on coins that they do not want to part with now.
Statistics show that periods of active withdrawal of cryptocurrencies from trading platforms, as a rule, are replaced by the positive dynamics of the coin. Therefore, we can assume that such behavior of market participants is a signal of the imminent end of the crypto winter.
Some of the market participants believe that BTC is on the verge of going up. For example, an analyst at Stockmoney Lizards sees signals for the exit of bitcoin in the pre-New Year rally.
Some users are sure that BTC has already passed the bottom.
At the same time, many investors still see the prerequisites for updating the cyclical low. For example, members of the crypto community under the nickname CryptoNoob_1 believe that BTC is in danger of falling to $12,000.
