Definition
- Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.
Quick Take
- $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took us over $21k.
- The transfer is primarily institutional, as it is more than $10M.
- With the news of Genesis on top last night, this is encouraging to see BTC holding above $20k.
- The substantial transfers are coming from Binance, which is sparking market volatility.
![Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/01/binance.png)
Bitcoin: Net Transfer Volume from/to Exchanges Breakdown by Size [USD]: (Source: Glassnode)
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