6,900 BTC flee en masse
Over the past 7 days, exchanges saw a net outflow of 6,916 BTC. Binance alone had 13,240 BTC leave, Coinbase Pro had 1,100, and Gemini just 131. The three add up to more than the total—are all the other exchanges moving coins onto exchanges? I can’t make these numbers add up with an abacus.
With this many coins leaving, the people calling for a bull market are banging the gong again. The loudest ones last year still haven’t moved the coins in their wallet addresses.
To everyone withdrawing your coins: are you planning to hold until they hit $100,000, or will you get on-chain only to find out that gas costs more than the coins? What’s your cost basis? I want to see how many of you are stuck at the top of the mountain like me.
Over the past 7 days, exchanges saw a net outflow of 6,916 BTC. Binance alone had 13,240 BTC leave, Coinbase Pro had 1,100, and Gemini just 131. The three add up to more than the total—are all the other exchanges moving coins onto exchanges? I can’t make these numbers add up with an abacus.
With this many coins leaving, the people calling for a bull market are banging the gong again. The loudest ones last year still haven’t moved the coins in their wallet addresses.
To everyone withdrawing your coins: are you planning to hold until they hit $100,000, or will you get on-chain only to find out that gas costs more than the coins? What’s your cost basis? I want to see how many of you are stuck at the top of the mountain like me.