Bitcoin worth $2.6 billion pulled from exchanges in 15 days as bullish sentiments rise

After Bitcoin (BTC) recently breached the $40,000 mark and continued its multi-day rally, there has been a substantial outflow of the popular digital asset from various crypto exchanges.

In just 15 days, around 61,000 Bitcoins were withdrawn from exchanges, according to a chart from the on-chain analytics platform glass knot, share by bitcoin archive March 22.

Source: bitcoin archive

Based on the price of Bitcoin price at press time, the amount that left the exchanges is equivalent to approximately $2.6 billion.

Specifically, the amount of Bitcoin on these exchanges 15 days prior to the publication date was approximately 2.57 million BTC, while at the time of publication the exchange wallets held nearly 2.51 million. BTC.

15,000 BTC withdrawn from exchanges in 24 hours

Of the total amount of Bitcoin withdrawn from exchanges, up to 15,000 BTC, or approximately $638 million, was withdrawn in a single day, according to data from another crypto analytics firm. InTheBlock, share that same day.

Source: InTheBlock

According to InTheBlockthis is the biggest release since January 29, 2022. The platform also added that:

“The last time BTC saw a major outflow, it was followed by a significant price rally.”

Canadian Purpose Bitcoin ETF Holdings Hit All-Time Highs, as Prices Rise

As the bullish sentiment for BTC intensifies, the amount of holdings of the Canadian Purpose Bitcoin exchange-traded fund (ETF) recently hit an all-time high of 34,850 BTC.

Notably, this breaks the previous record of 34,760 BTC, set on March 3, 2022, in accordance with glass knot Data tweeted by market analyst Jan Wüstenfeld on March 22.

Source: Jan Wustenfeld

Finally, Bitcoin’s price at press time stood at $42,556, demonstrating growth of 8.78% from seven days prior, when it traded below the crucial $40,000 mark at 39 $120.

Seven-day bitcoin price. Source: CoinMarketCap

The market capitalization of the largest cryptocurrency in this sense was $807.90 billion, a growth of $64.77 billion in just one week has been seen since then, CoinMarketCap the data shows.

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