It is worth noting that cryptocurrency inflows to exchanges also increased. According to Glassnode, the 7-day average (7d MA) of BTC inflows to trading platforms reached a 3-month high of 1,755,021 BTC. If we can observe this trend, we can calculate the profit from mining with the help of cpu calculator
As a rule, the withdrawal of BTC from exchanges means that the owners of coins move them to cold storage and, accordingly, do not plan to get rid of them in the near future. Such confidence on the part of hodlers is a good sign for the currency.
In the last day, the total capitalization of the crypto market fell from $1.75 trillion to $1.5 trillion and trading volumes were around $109 billion.
The market capitalization of BTC has slipped to around $626 billion as of this writing, down from last year's peak of $1 trillion.
Traders find it difficult to name a specific catalyst for the latest wave of liquidations, but stock markets are also suffering losses, so we can talk about the general bearish mood of investors. If bitcoin breaks through the psychological mark of $30,000, selling could intensify again.
Last month, BeInCrypto's editorial board told us that bitcoin's bitcoin holdings have been declining since March 2020. Now, however, the situation has begun to change.
The influx of coins to trading platforms is a potential signal of the hodlers' intention to get rid of their coins.
