Bitcoin perps most negative since FTX collapse, while Bitcoin continues to be withdrawn from exchanges

Posted byAdam Owen Leave a comment on Bitcoin perps most negative since FTX collapse, while Bitcoin continues to be withdrawn from exchanges

Over 15k Bitcoin left exchanges yesterday, while perps are the most negative since FTX collapse

Quick Take

  • The second most amount of Bitcoin withdrawn from exchanges this year at roughly 15,000 BTC.
  • The perpetual funding rate is extremely negative, indicating Bitcoin is being shorted aggressively by record amounts since the FTX collapse.
  • Investors are creating a “stablecoin,” buying Bitcoin and shorting cross 1x inverse to achieve a synthetic USD. 

Futures Perpetual Funding rate: (Source: Glassnode)

Exchange Netflow: (Source: Glassnode)

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James is passionate about data, technology, and identifying trends. James is a freedom and technology maximalist, seeing Bitcoin as the greatest invention of the 21st century.

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Adam Owen

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