Recorded the largest daily inflow of bitcoins to crypto exchanges in four years

What happened? According to the analytical platform CryptoQuant, on June 14, traders contributed 59,376 bitcoins to cryptocurrency exchanges ($ 1.25 billion at the rate of June 15, according to Binance). This is the maximum inflow of BTC to the platforms since November 30, 2018. The growing sales pressure may be due to the fact that on this day the rate of the first cryptocurrency fell to $ 20,181. On June 15, 15:00 Moscow time, the asset is traded at $ 21,104.

CryptoQuant Data

Previous maximum. On November 30, 2018, the net inflow to crypto exchanges amounted to 83,481 BTC. About a month later, the BTC/USD rate reached its bottom at $3156.

On June 13, the hash rate of the bitcoin network updated the maximum and amounted to 231.4 EH / s, according to the blockchain.com. This comes after the price of BTC dipped below $25,000 for the first time since December 2020. The complexity of mining the first cryptocurrency reached 30.28 tons.

In early June, the influx of large miners to crypto exchanges reached a peak since January 2022. According to Compass Mining, cryptocurrency mining has become less profitable and its participants have begun to sell assets to cover electricity costs.