Nearly $400M in crypto liquidations over 24 hours pushes Bitcoin above $23k

by Derek McKinney | Posted on

Quick Take:

  • The crypto market has recorded nearly $400 million in liquidations in the past 24 hours. BTC briefly surpassed $23k.
  • Almost $500 million in BTC has been taken off exchanges in the past 24 hours.
  • Only 11.7% of all BTC supply now sits on exchanges, the lowest amount since December 2017.
  • Almost $500 million in Bitcoin has been withdrawn from exchanges.
  • However, Ethereum has only seen around $100 million withdrawn from exchanges in the past 24 hours.
  • ETH has a higher beta than BTC, fuelled by cheap leverage.
Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size (USD] - All Exchanges
Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size (USD] – All Exchanges / Source: Glassnode
Price of Bitcoin
Bitcoin Price (Source: TradingVIew)

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