๐ Alert: BitMEX continuously transfers Bitcoin from cold wallets to hot wallets!
According to data from Onchain Lens, BitMEX has just moved 367.65 BTC to a hot wallet in preparation for trading.
๐ Detailed figures:
๐น Amount: 367.65 BTC
๐น Estimated value: $23.92 million
๐น Frequency: Occurred multiple times over the past week
Deep perspective: Moving assets from cold wallets to hot wallets is often a sign that an exchange is preparing liquidity. In the context that BitMEX had previously announced closure, this move is most likely intended to handle usersโ withdrawal requests.
Whatโs noteworthy is that when a major exchange pushes a large amount of coins to hot wallets, market sentiment often becomes more cautious due to concerns that selling pressure may increase. However, if this is only a customer payment/settlement process, the impact may not be overly negative.
What do you think about BitMEXโs move? Will it affect BTCโs price in the short term?
๐ Catch the trend โ Follow the Channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#CryptoMarket #Trading #Crypto #BTC #Bitcoin $BTC
According to data from Onchain Lens, BitMEX has just moved 367.65 BTC to a hot wallet in preparation for trading.
๐ Detailed figures:
๐น Amount: 367.65 BTC
๐น Estimated value: $23.92 million
๐น Frequency: Occurred multiple times over the past week
Deep perspective: Moving assets from cold wallets to hot wallets is often a sign that an exchange is preparing liquidity. In the context that BitMEX had previously announced closure, this move is most likely intended to handle usersโ withdrawal requests.
Whatโs noteworthy is that when a major exchange pushes a large amount of coins to hot wallets, market sentiment often becomes more cautious due to concerns that selling pressure may increase. However, if this is only a customer payment/settlement process, the impact may not be overly negative.
What do you think about BitMEXโs move? Will it affect BTCโs price in the short term?
๐ Catch the trend โ Follow the Channel https://app.binance.com/uni-qr/cpro/Square-Creator-4a0f2008149d?l=en&r=BOZMO8A1
#CryptoMarket #Trading #Crypto #BTC #Bitcoin $BTC