Santiment: Net outflow of Bitcoin from CEXs reached 403,200 coins in the past year.
AI Summary1 min read
TL;DR
Santiment reports a net outflow of 403,200 Bitcoins from CEXs over the past year, reducing supply by 2.09%. This trend is seen as a positive long-term signal, as lower exchange holdings decrease the risk of major sell-offs and price declines.
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BitcoinLayer 1Halving TokensCEX outflowSantimentcryptocurrencymarket analysis
According to Mars Finance, Santiment tweeted, "With Bitcoin's market capitalization hovering around $90,000, the cryptocurrency with the largest market capitalization continues to show a trend of exits from CEXs. In 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 positive signal. The lower the amount of Bitcoin held by exchanges, the less likely it is to trigger a major sell-off that leads to a decline in asset prices."