Huge Amount of Bitcoin Output from Exchanges

According to data from on-chain data platform Glassnode, a huge amount of Bitcoin has been released from exchanges.

Glassnode, which recently published a report saying "Indicators point to a bear market", now stated that there are high numbers of Bitcoin output happened from exchanges on its Twitter account. The message of the platform included the following: "In Bitcoin, the monthly output volume from the markets has reached 96.2 thousand. In total, such high number of exits has been experienced very rarely throughout the history of Bitcoin. Most of these exits have occurred after March 2020." As it is known, the outflow of funds from the stock markets is interpreted as investors withdrawing their coins to cold wallets. This means that the investor does not think of selling in the short term and withdraws their coins to the cold wallet, which is a safer place than the stock market. March 2020 witnessed one of the hardest collapses in the history of cryptocurrencies. The coronavirus epidemic, which started in China, started to show seriously in the European continent as of March, and there were serious decreases in both stocks and cryptocurrency markets. In the big drop, also known as the "March 12 crash" in the crypto universe, Bitcoin dropped below $4,000 and caused many altcoins to decline. After this date, Bitcoin entered a period of significant rise and never regressed to these levels.