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The flow of Bitcoin towards the exchanges hits its highest level since July 2021…Details here

The flow of Bitcoin towards the exchanges hits its highest level since July 2021…Details here

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Answer The flow of Bitcoin towards the exchanges hits its highest level since July 2021…Details here

Bitcoin price has fallen to levels not seen since last year.

As of press time, Bitcoin is down 5%, dropping below $32,000.

It also fell below $30,000, the first time since July 2021.

Data shows that bitcoin whales have been depositing bitcoins on cryptocurrency exchanges in huge numbers.

According to data from CryptoQuant, bitcoin inflows toward cryptocurrency exchanges have reached their highest level in one year.

Similarly, cryptocurrency inflows into spot trading portfolios touched a two-year high.

Cross-chain data from Santiment also shows that more than 40,000 bitcoins moved to exchanges on Monday, the largest single-day inflow after December 2019.

Read:Find out the main reason for the recovery of the digital and cryptocurrency market

Massive filtering of Bitcoin short positions:

Santiment reports that funding rate data indicates a massive amount of selling after Bitcoin dropped below $30,000 for the first time in about a year, and then bounced back to $32,000 levels.

During this market crisis, El Salvador announced the highest one-time purchase of Bitcoin.

The Latin American country bought 500 bitcoins for $15.3 million.

Read:A member of the Arab Bitcoin community tells the story of his exposure to a cryptocurrency scam

With its recent purchase, El Salvador has more than 2,300 bitcoins in its vault.

Read also:

Bitcoin price rebounds after massive buying by whales and institutions

Cryptocurrency “LUNA” collapses by 60% as its stablecoin “UST” drops below $0.7


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