Insights

Nearly $400M in crypto liquidations over 24 hours pushes Bitcoin above $23k

exchange68September 13, 2024

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Quick Take:

The crypto market has recorded nearly $400 million in liquidations in the past 24 hours. BTC briefly surpassed $23k.
Only 11.7% of all BTC supply now sits on exchanges, the lowest amount since December 2017.
Almost $500 million in Bitcoin has been withdrawn from exchanges in the past 24 hours.
However, Ethereum has only seen around $100 million withdrawn from exchanges in the past 24 hours.

Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size (USD] - All Exchanges — Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size (USD] – All Exchanges / Source: Glassnode

Price of Bitcoin — Bitcoin Price (Source: TradingVIew)

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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