According to Glassnode analysts, the collapse of crypto exchange FTX has been a financial stressor for Bitcoin whales and long-term investors.
According to the firm's experts, the net outflow of Bitcoin from crypto exchanges to non-custodial wallets has continued, reaching a record 172,700 BTC per month. The driver for this has been the loss of investor confidence in centralized platforms.
Analysts have highlighted that of the total daily confirmed transactions, 29.2% were related to withdrawals.
The company's experts have identified an increase in the average amount of deposits on crypto exchanges, which is a sign of the activity of whales, institutions and market makers.
During the last stages of the bear market of 2018-2019 a similar situation occurred.
