Almost 200,000 bitcoins flooded crypto exchanges on Thursday. Investors taking $BTC off exchanges signals a flight to custody, but putting it back is often interpreted as an intent to sell. Chart of the Day explains the data, presented by cryptocom:
On the heels of the collapse of crypto exchange FTX, crypto’s overall market cap has sunk to as low as $763 billion from a peak of $2.5 trillion in May 2021.
Bitcoin’s market cap has plunged to $319 billion from above $1 trillion last November. The current market cap for the industry hasn’t been this low since early last year. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
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