A new analysis from CoinDesk found that the current rate of outflows from Bitcoin is unprecedented, with 1.1 million BTC leaving exchanges in a single day. This is a significant jump from previous market tops, where the daily outflow rate typically maxed out at around 600,000 BTC. The acceleration of outflows is a sign of growing concern among investors.
This article is Bitcoincryptos' summary and analysis of reporting originally published by CoinDesk. Read the full original report at the link above.
Typically, investors cash out at market tops by selling their Bitcoin directly for fiat currency. However, this time around, holders are opting for more complex strategies, such as selling into stablecoins or other cryptocurrencies, or using derivatives to hedge their bets.