Between November 7 and 13, investors withdrew almost $3 billion in BTC from exchanges. The number of transfers broke records for May and June of this year.
Glassnode analysts noted that the cryptocurrency went to almost 100,000 wallets. Investors' concern can be associated with the bankruptcy of the FTX exchange, which became known in early November.
Experts note that keeping assets on custodial wallets is not safe, as third parties have access to them. Therefore, last week hodlers were actively withdrawing their funds to non-custodial wallets. Thus, bitcoin stocks are rapidly declining on a number of major exchanges. According to CryptoQuant, the reserves of the Bitcoin coin have dropped to the lowest levels that have not been seen since February 2018.
Earlier, analyst Capo expressed his opinion on the price of bitcoin and gave a forecast, regarding its price in the near future.