Santiment: Net Outflow of Bitcoin from CEX Reached 403,200 in the Past Year
Jinse Finance reported that Santiment tweeted that as the market value of bitcoin hovers around $90,000, bitcoin, the leading cryptocurrency by market capitalization, continues to show a trend of outflows from CEXs. Over the past year, a total of 403,200 bitcoins have flowed out of CEXs, resulting in a net decrease of 2.09% in total supply. Overall, this is a long-term bullish signal. The lower the amount of bitcoin held on exchanges, the less likely it is historically to trigger major sell-offs that lead to asset price declines.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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