{"id":373614,"date":"2023-02-06T05:38:54","date_gmt":"2023-02-06T10:38:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=373614"},"modified":"2023-02-06T05:46:53","modified_gmt":"2023-02-06T10:46:53","slug":"gate-io-records-massive-bitcoin-withdrawal","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/gate-io-records-massive-bitcoin-withdrawal","title":{"rendered":"Gate.io Records Massive Bitcoin Withdrawal From The Exchange"},"content":{"rendered":"

As the cryptocurrency market continues its attempts at recovery, one of the top crypto exchanges, Gate.io, faced a significant outflow of Bitcoin.<\/span><\/p>\n

A single entity withdrew over $120 million in Bitcoin (BTC) from the exchange, marking the second-largest withdrawal in its history, according to whale tracker Mr. Whale. The crypto exchange currently has a remaining 7,000 BTC on the market, causing concern among market observers.<\/span><\/p>\n

A recent report from a leading news source has revealed that the availability of Bitcoin on exchanges has reached a record low of 2.24 million Bitcoins. In addition, the market saw a significant outflow over the weekend, with nearly 10,000 BTC<\/a> leaving the exchanges, adding to concerns about the current state of the market.<\/span><\/p>\n

https:\/\/twitter.com\/WhaleWire\/status\/1622379315844325376<\/p>\n

Bitcoin Active Addresses Record A Boost<\/span><\/h2>\n

After a prolonged bearish phase, the cryptocurrency market has seen a resurgence in 2023, with Bitcoin leading the charge. The world’s largest cryptocurrency holds a dominant 40% of the market with a market cap of $442 billion, driving the overall market cap to a staggering $1.1 trillion.<\/span><\/p>\n

Bitcoin is currently trading below the $22,854.36 mark with a 24-hour trading volume of $26 billion, experiencing a 33% increase in a day. Its price has risen 35% in the last 30 days but has declined by 4% in the past week and 2% in the past day.<\/span><\/p>\n

\"Gate.io
Bitcoin currently trade downward l Source: Tradingview.com<\/a><\/figcaption><\/figure>\n

The number of Bitcoin addresses holding a balance of 0.01 or more has reached a new all-time high, surpassing 11.5 million, as per Glassnode. This follows a recent surge in Bitcoin’s price and a rise in active addresses, which now exceeds 805,000. Additionally, BTC’s Fear & Greed Index has reached the “Greed” zone and risen to 56 points.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As the cryptocurrency market continues its attempts at recovery, one of the top crypto exchanges, Gate.io, faced a significant outflow of Bitcoin. 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