Bitcoin (BTC) which is a major crypto has caught the attention of market players recently due to its alarming price volatility. Bitcoin price has bounced back and forth between the $60,000 and $67,000 levels after touching an all-time high of $73,750. Furthermore, Bitcoin is showing significant withdrawals in exchanges as exchange supply has reached an all-time low.
According to Coinglass, Bitcoin exchange supply fell to a record low of $1.79 billion on Friday, March 23. Furthermore, the Coinbase Pro exchange is a major contributor to the flow of BTC from crypto exchanges. On Friday, more than 14,800 BTC were withdrawn from Coinbase Pro.
On the other hand, BTC exchange supply recovered with more than 1,500 BTC flowing into Coinbase Pro on Monday, March 25. However, outflows from Binance, Kraken, and Bybit are still ongoing. Binance accounted for nearly 4,000 Bitcoin withdrawals in the last 30 days. Additionally, Bitfinex contributes to the flow of more than 30,400 BTC in a month.
Bitcoin price recovered massively and was trading at $67,042, up 2.01% at the time of writing. Meanwhile, the market capitalization is at $1.32 billion. Furthermore, the 24-hour trading volume for BTC increased by 32.14% to $29.95 billion.
Amid the price recovery, more than $61.84 million worth of Bitcoin holdings were liquidated. Selling dominated the market and contributed to massive liquidity of $46.27 million in the last 24 hours. Repurchasing their positions will lead to higher price increases in the short term.
