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Crypto_Serbonets🎩
@serbonets
Regarding the recent surge in Bitcoin exchange deposit volumes: There has been growing concern in the market due to the recent spike in Bitcoin exchange deposits. Along with this, short-term UTXOs (Unspent Transaction Outputs) have also risen sharply. (UTXO explained briefly here: It's essentially the amount of Bitcoin that increases when Bitcoin moves or is spent.)
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Crypto_Serbonets🎩
@serbonets
Compared to the amount of Bitcoin withdrawn from exchanges since March, this is really just a small fraction. Since this is a direct influx of supply into the market (rather than over-the-counter transactions), it could provide some basis for a short-term correction. However, it doesn't have the power to change the overall trend.
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