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Over 34,000 Bitcoin Moved Off Exchanges In A Single Day, What Does This Mean For BTC Heading Into October?

Cryptocurrency Oct 02, 2022 21:10
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© Igor Faun Over 34,000 Bitcoin Moved Off Exchanges In A Single Day, What Does This Mean For BTC Heading Into October?
 
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Analytics firm Santiment has recently shared that more than 34,000 Bitcoin (CRYPTO: BTC) moved out of the exchange in a single day.

According to Santiment, this could indicate traders’ confidence heading into the fourth quarter.

Earlier in June, such a large amount of BTC left the exchange, after which the price rose by 22%.

CryptoQuant has reported that FX reserves have shrunk by more than 60,000 BTC in the last three days.

Also Read: Crypto Analyst Who Predicted 2022 Bitcoin Meltdown Says BTC Has Reached A 'Local Bottom'

Cryptocurrency strategist James Altucher, the host and founder of InvestAnswers, said that as the last quarter of the year begins, October has been historically a bullish month for Bitcoin.

At the time of writing, Bitcoin was trading at $19,284, up by 1.68% in the last seven days.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Over 34,000 Bitcoin Moved Off Exchanges In A Single Day, What Does This Mean For BTC Heading Into October?
 
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