Bitcoin buying pressure could surge amid rising exchange withdrawals
- There has been a rapid increase in exchange withdrawals for Bitcoin since November 2022.
- The trend of exchange withdrawals for Bitcoin has gathered pace since April 2023.
- Over 100,000 BTC have been withdrawn from exchange balances since then.
It seems like Bitcoin holders are taking matters into their own hands and withdrawing their precious BTC from exchanges. This could potentially lead to a surge in buying pressure as more people hold onto their Bitcoin instead of keeping it on exchanges. With the recent volatility in the Bitcoin market, it’s no wonder that people want to have full control over their digital assets. So, buckle up and get ready for some wild rides in the crypto world!