Wenry
$BTC Flows seen On-chain - Exchanges
𧊠Exchanges Along with the recent bankruptcy of FTX, the volume of outflows to 'Wallet' and 'DEX' has increased rapidly, leading to distrust of 'CEX' and 'CeFi platforms. As a result of this influence, the amount of bitcoin held by the exchange is at an all-year low and is close to the level of January 2018. In general, the selling pressure tends to weaken when the trading holdings decrease, but this time, the distrust in the market has increased. Because of the impact, it is difficult to expect an increase in price. Despite this, there is no significant change in long-term holders in UTXO-based On-Chain data, and most of the market participants contributing to volatility are individual investors considering the short-term aspect of low-priced purchases.