With the recent weakening of the Bitcoin price, the value in the spot market decreased to the $ 69,000 range. Despite the decline in prices, on-chain data from Binance, one of the major cryptocurrency exchanges, pointed to a prominent change in investor behavior. There has been a significant increase in the amount of Bitcoin withdrawn from the stock market in recent days.
Rapid Increase in Amount of Shots
Bitcoin outflow volume, calculated according to the 14-day Simple Moving Average formula of the Binance exchange, showed a remarkable increase in a short time. While data on January 28 showed that an average of 6 Bitcoins were withdrawn in transactions, on February 8 this amount reached approximately 13.3 Bitcoins. These figures marked the highest average withdrawal level since November 2024.
The increase in question occurred with great speed and acceleration. It is considered that the majority of the withdrawals were made through a small number of large transactions rather than a wide range of investors.
The Average Bitcoin Outflow metric measures the amount of Bitcoin withdrawn in each transaction. A sudden increase in this value often indicates institutional investors or large portfolio owners rather than individual users. It was stated that this indicator almost doubled in the last ten-day period, which coincided with the price decline.
Possible Consequences on the Market
Such large-scale withdrawals could reduce the amount of Bitcoin available for immediate sale on the exchange. In the cryptocurrency market, the withdrawal of assets from the exchange to private cold wallets leads to a temporary decrease in supply. This situation is interpreted as a sign that, although there is weakness in the general market sentiment, the selling pressure may decrease somewhat in the short term.
The fact that the increase in the withdrawal amount coincided with the period when Bitcoin dropped to 69 thousand dollars indicates that large investors moved towards accumulation rather than distribution in a panic atmosphere.
The differences between price and on-chain behavior, which are frequently observed in the markets, also manifest themselves in this process. Although the price appears to have weakened, withdrawal data suggests that the large investor is strengthening its position by reducing the stock market supply.
These developments are not considered as a definitive sign that the market has bottomed, but they point out that the buying interest of large investors has increased while the price is at an important psychological level.
