Bitcoin Updates: Widespread Economic Uncertainty Spurs Withdrawals from Centralized Exchanges While Bitcoin Sees $931 Million in New Investments
- Centralized exchanges saw 10,548.96 BTC net outflows, led by Coinbase Pro (12,574.28 BTC), while Binance recorded 1,153.81 BTC inflows. - Macroeconomic uncertainties like U.S.-China tensions and Fed policy delays persist, but rate cut expectations drove $931M Bitcoin inflows last week. - Ethereum faced $169M outflows as investors shifted to Bitcoin, now viewed as a long-term store of value with 75% of holdings held over 150 days. - Whale activity showed mixed signals: 10,000 ETH deposited at Binance vers
Data from Coinglass, cited by
This shift comes as expectations for a Federal Reserve rate cut intensify, fueling increased crypto inflows. Last week, digital asset investment products attracted $921 million in net inflows, spurred by weaker-than-expected U.S. inflation figures and speculation about looser Fed policy, according to a
On-chain activity from major holders presents a mixed picture. One whale transferred 10,000
The Federal Reserve’s upcoming rate announcement adds further uncertainty. Citigroup forecasts rate cuts in December, January, and March, which aligns with broader market expectations, according to
Investors are also watching how broader economic changes affect crypto price movements. The Bank for International Settlements and the IMF have observed that Bitcoin and Ethereum often respond to unexpected shifts in U.S. monetary policy, a point emphasized in the StreetInsider article. As the Fed moves toward a more dovish stance, traders are advised to monitor implied volatility and liquidity, which could intensify price fluctuations in both BTC and ETH, according to
In the near term, the outflows from CEXs may indicate a move toward safety or preparation for possible sell-offs, as noted by Yahoo Finance. Nevertheless, long-term investors remain positive, pointing to Bitcoin’s evolving status as a store of value and its increasing adoption by institutions, according to Yahoo Finance. With the Fed’s decision approaching and global tensions unresolved, the next direction for the crypto market will likely depend on clearer signals from monetary policy and international trade, the StreetInsider article concluded.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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