Insights

Bitcoin bulls rejoice: YTD high in sight – further $200M BTC withdrawn from exchanges

exchange68September 13, 2024

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Quick Take

Yesterday, $200 million worth of Bitcoin was withdrawn from exchanges.
This adds to the continuation of Bitcoin being taken off exchanges.
Roughly 34,000 Bitcoin have been taken off exchanges in the past nine days.
There was also a short squeeze — as the perpetual funding rate was negative.
Premium on puts started to go higher, according to Options 25 Delta Skew ( 1 Week).

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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