Bitcoin is witnessing a significant movement, with exchanges experiencing a near-record outflow of over $2 billion.

According to a post by James Van Straten on X (formerly known as Twitter), the statistics from the on-chain analytics firm Glassnode showed that the Bitcoin market saw a notable exodus on March 1, with exchanges seeing around $2.3 billion in withdrawals.

One of the Largest Withdrawals Near Record

This recent movement challenges the previous records observed in 2021, when critical withdrawals similarly signaled a shift in the market. In comparison, the daily outflows around the end of June 2021 were among the highest recorded.

“I don’t think I’ve quite seen anything like this before,” said Van Straten.

As of March 2, Glassnode reported that the total Bitcoin held on major exchanges has fallen to 2,286,347 BTC, valued at approximately $142.5 billion. This marked the lowest level of Bitcoin assets on exchanges since March 2018.

“Binance saw about $400M, and seen fairly big outflows for the past few days. Coinbase saw the rest,” said Van Straten. “Binance outflows are the interesting ones because they have nothing to do with the ETF.”

Get to know Trustleak

Trustleak crypto signal is a  service which provide profitable crypto and forex signals. Trustleak tried to provide you signals of best crypto channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Trustleak crypto leak service have multiple advantages in comparision with other services:

•  Providing signal of +100 best crypto vip channels in the world
• Using high tech bot to forward signals
• Without even a second of delay
• Joining in +160 separated channels on telegram
• 1 month, 3 months , 6 months and yearly plans
• Also we have trial to test our services before you pay for anything

For joining Trustleak and get more information about us only need to follow trustleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features

Join for Free

☟☟☟☟☟

https://t.me/Trustleakbot

Also you can check the list of available vip signal channels in the bot. by pressing Channels button.

The post also included a screenshot of the most considerable transactions on Binance.

“These are $50M+ outflows from Binance,” said the post. “But most of the transactions are $10M+ too many to screenshot.”

Bitcoin Price Briefly Touching $64,000

CoinMarketCap shows that Bitcoin is trading at $63,632 at the time of writing, 2.54% up from 24 hours ago. More importantly, Bitcoin price briefly touched the $64,000 level, reaching as high as $64,163 before falling to the $62,000 mark again.

In addition, the consolidation above $62,000 has already made 99% of the addresses profitable. Bitcoin analyst PlanB suggested that the crypto is entering an explosive bullish market with a 10-month surge powered by the fear of missing out (FOMO).