According to Glassnode’s data, 28,000 BTC worth $1.19 billion were withdrawn from central exchanges on Wednesday, December 27.
The impact of the Christmas week on the cryptocurrency market continues. Now the sharp rises have subsided as volatility has decreased and BTC remains in a moderate price range. The virtual currency market is expected to be lively right after Christmas. The status of Bitcoin Spot ETF and what will happen in the new year has become a matter of curiosity.
Christmas week remained quiet but some interesting data emerged. According to Glassnode’s data, on Wednesday, December 27, 28,000 BTC worth $1.19 billion were leaked from central exchanges. This situation was interpreted as a bullish signal.
The Biggest Central Stock Market Exit in a Long Time!
According to Glassnode data, the largest BTC outflow from a central exchange has been observed since December 14, 2022. On December 27, 28,000 BTC was moved from a centralized exchange to a cold wallet.
Such a large outflow of BTC from exchanges was related to the possible approval of the Bitcoin Spot ETF. The SEC is expected to approve Bitcoin Spot ETF applications from institutional investors in the coming weeks. BTC, which has been on the rise since September due to the ETF agenda, may see a big jump with the approval news.
BTC investors may be preparing for a big breakout. Therefore, they may want to keep a central supply of foreign exchange in their wallets in case of a possible bull market.
The leading cryptocurrency is trading at $42,600. With the impact of the Christmas week, BTC trade is moving away from volatility. According to CoinMarketCap data, BTC transaction volume decreased by 12% in the last 24 hours and reached 22.85 billion dollars.
