Bitcoin exchange withdrawals sink to 7-month low as users forget FTX
Bitcoin exchange users get comfortable as "Do Nothing December" sees BTC price volatility drop to record lows. Bitcoin (BTC) exchange users have forgotten all about the FTX scandal this Christmas, data shows. According to on-chain analytics firm Glassnode, exchange outflows have now hit their lowest levels in over six month s. Still not your keys, still not your coins? As Bitcoin volatility sets a new record low in what is being called “Do Nothing December,” exchange users’ habits are also rapidly adjusting to the current climate. After seeing an overwhelming surge in light of the FTX meltdown, BTC withdrawals from exchange wallets have entirely reversed the spike which began around six weeks ago. Having hit a peak of 142,788 BTC on Nov. 14, outflows from the trading platforms tracked by Glassnode have declined over ten times. On Dec. 25, the latest date for which numbers are available, total exchange outflows came in at just 9,352 BTC — a drop of 93.5%. Bitcoin exchange ou...