02 Apr BTC Held by BitMEX Fell 25% After Mass Liquidations
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The amount of Bitcoin (BTC) held by crypto exchange BitMEX has fallen by 25% in the past few weeks.
During the crypto bloodbath on March 12, Bitcoin (BTC) fell 50% from a price over $10,400 on March 12. Mass liquidations on BitMEX were believed to play a big role in the crypto crash. Ever since, the amount of Bitcoin held on the platform has decreased significantly.
According to data collected by CoinMetrics, on March 13, BitMEX held approximately 315,000 BTC. This number has dropped to 244,000 BTC as of March 29.
The amount of Bitcoin held by BitMEX has been in freefall over the past two weeks after BitMEX experienced mass liquidations on March 13th.
As of March 29th, BitMEX held 244k BTC, down from a peak of 315k on March 13th.
Read more: https://t.co/cC66MWe4d2 pic.twitter.com/liB6GVkLwg
— CoinMetrics.io (@coinmetrics) March 31, 2020
The reasons for the plunge aren’t entirely clear. Investors may simply be withdrawing their crypto to cold storage in the face of an uncertain market…
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