The fall of Bitcoin is a direct result of a sharp increase in the volume of crypto on the exchanges.
According to a report from Glassnode, the daily influx of BTC to trading floors reached its highest level since March 2020 last Wednesday. On September 14, over 260,000 Bitcoins were received on 18 major crypto exchanges.
Santiment analysts have also drawn attention to the sharp increase in the BTC exchange balance.
They found that in seven days, investors withdrew a total of 1.69 million Bitcoins to the trading floors.
The market saw the largest supply of cryptocurrencies to exchanges since October 2021 on a weekly basis.
