bereajoy： Crypto exchanges see record-high week of BTC outflows, following FTX saga
Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.
Bitcoin outflows from centralized cryptocurrency exchanges rose to a historic high this week, as investors increasingly turned to self-custody options following the collapse of now-bankrupt FTX, which had been the world’s second-largest crypto exchange just a week ago.
In the past seven days, exchanges saw a netflow of -7,680 Bitcoins, according to data from IntoTheBlock, suggesting that more investors are taking their Bitcoins off exchanges. Netflow is the difference between tokens entering and exiting cryptocurrency exchanges.
Bitcoin exchange outflows rose to 742,401 between Nov. 9 and Nov. 15, according to on-chain data provider CryptoQuant. The week’s biggest outflows occurred on Nov. 9, when 168,287 Bitcoins were withdrawn from exchanges.
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