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Undoubtedly, Bitcoin has seen significant growth over the past years both in market price and as a network, solidifying its reputation as a considerable financial haven. Adding more credibility to this fact, a CryptoQuant analyst known as Gaah recently highlighted a notable trend: a large volume of Bitcoin—roughly 1 million BTC—has been withdrawn from crypto exchanges over the past three years. This trend reflects not only the increasing recognition of Bitcoin as a financial asset but also a notable shift in investor behavior. It also suggests a changing dynamic in how market participants view and use the asset in recent years. Related Reading: Bitcoin Reclaims Crucial Liquidity Level – No Resistance Left Below ATH What It Means For The BTC Market Gaah’s analysis points to a clear trend: approximately one million BTC have been withdrawn from exchanges over the past three years. This pattern reflects a growing preference among investors to hold Bitcoin off-exchange, a strategy that often signals long-term confidence in the asset’s value. Gaah wrote: This trend reflects both the growing global adoption of the asset as a store of value and a strategy against market volatility, using the asset itself as a margin in hedge operations. Gaah also highlighted that the trend first gained attention in November 2022, when significant outflows coincided with a period of market weakness. Investors appeared to be accumulating Bitcoin in anticipation of a notable recovery. 1 million Bitcoin withdrawn from exchanges in the last 3 years “The withdrawal of BTC from exchanges reduces liquidity and, consequently, selling pressure, which can support the price in short-term realizations.” – By @gaah_im Read more ????https://t.co/sZHbF3r36m pic.twitter.com/DfFm4YtGWj — CryptoQuant.com (@cryptoquant_com) January 20, 2025 Now, two years later, a similar wave of withdrawals is occurring, but this time against the backdrop of Bitcoin trading near historic highs. Gaah noted: This contrast between accumulation during a bearish period and withdrawal after strong rises reveals the different market dynamics impacted by changes in behavior since the market matured. It is worth noting that by reducing liquidity on exchanges, these withdrawals can also decrease selling pressure, providing support for Bitcoin’s price during market corrections. However, the analyst mentioned: With fewer BTC available for trading, the market is preparing for new, more volatile price movements. Bitcoin Market Performance Meanwhile, BTC has so far been on a rollercoaster ride since the year began. After initially beginning the year with an increase, BTC was quick to face correction which left investors in despair. Related Reading: Why Bitcoin’s Ongoing Recovery Could Be Just the Beginning Of a Larger Rally However, as of today, the asset is now back in a bullish action. In the early hours of Monday, Bitcoin saw a notable surge renewing its all-time high after a breach above $109,000. This has caused the asset’s weekly performance to enter a double-digit gain. However, at the time of writing, there has been a slight retracement with BTC now trading at $104,782, marking a 0.1% decrease in the past day. Featured image created with DALL-E, Chart from TradingVIew
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Solana Leads with $1.444 Billion Net Inflow, Outpacing Base Network and Avalanche
According to Artemis data reported on January 21st, the Solana network has demonstrated remarkable performance over the past week, achieving a net inflow of $1.444 billion, thus securing its position NewsBTC
Crypto Dawn: A Thrilling Journey into the Future of Cryptocurrency with 1 BTC & Tesla as Rewards
DUBAI , UAE , Jan. 21, 2025 /PRNewswire/ — Bybit , the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch “Crypto Dawn” campaign for new users and traders, inviting them to embark on a journey into the vibrant world of cryptocurrency under the theme “Heading Towards the Bright Future of Cryptocurrency.” This initiative offers participants engaging opportunities to deposit, trade, collect crypto cards, and win remarkable prizes, including 1 BTC and a Tesla Model 3. A New Era in Cryptocurrency By 2025, Bitcoin has become a key geopolitical asset, with governments and central banks exploring its role in national reserves alongside gold and fiat currencies. Industry experts highlight recent policy shifts in major economies as a sign of Bitcoin’s growing importance in global finance. Discussions around creating dedicated Bitcoin reserves have further fueled optimism, reflecting a broader confidence in cryptocurrency’s future among advocates and markets worldwide. Crypto Dawn: Deposit, Trade, and Collect 1. Deposit Participants begin by depositing at least $100 to select from a variety of cryptocurrencies, including SOL, XRP, SUI, MNT, DOGE, AAVE, ENA, LINK, bbSOL, and TON. Each eligible deposit qualifies for a reward, distributed on a first-come, first-served basis, and grants one lottery ticket for daily rewards. 2. Trade Trading activities allow participants to earn crypto cards, which represent different cryptocurrencies. Collecting at least six cards enables the synthesis of a lottery ticket, increasing eligibility for additional rewards. Frequent trading enhances opportunities to gather more cards and tickets. Lucky draw prizes include Tesla Model 3, Rolex Submariner, BTC, ETH, XRP tokens and others. 3. Collect On Feb. 7, a Bitcoin block hash will determine the campaign’s grand prize winner. The participant whose lottery ticket numbers match the block hash most closely will be awarded 1 BTC. Joan Han , Sales and Marketing Director of Bybit, shared her excitement about the campaign, stating, “ Crypto Dawn exemplifies our commitment to creating engaging and rewarding experiences for our users. By offering a combination of fun, innovation, and significant prizes, we aim to make cryptocurrency more accessible and appealing to everyone.” With a focus on fostering accessibility and engagement, Bybit’s “Crypto Dawn” campaign paves the way for new and seasoned traders to explore the possibilities of cryptocurrency while celebrating the innovation and opportunities of the digital asset space. #Bybit #TheCryptoArk About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit’s Communities and Social Media Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube NewsBTC
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President Trump Sidesteps Crypto on Day One
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