Coinbase experienced withdrawals totaling roughly $2 billion worth of BTC over the weekend of Nov. 26 to Nov. 27, bringing the total amount withdrawn since Nov. 24 to $3.5 billion.
Roughly $1.5 billion worth of Bitcoin (BTC) was withdrawn from the exchange between Nov. 24 to Nov. 25.
Coinbase BTC net position
The exchange’s reserves have been losing around 50,000 BTC daily since Nov. 24, equating the total withdrawn amount to around $3.5 billion.
All exchanges lost $15B
According to data from Glassnode, all major exchanges experience massive BTC withdrawals.
All exchanges’ BTC net position
Almost all exchanges have seen withdrawals — amounting to roughly $15 billion in total — over the past five days
The last time such movements were recorded was during April and May, after the Terra collapse.
Binance
Amongst all significant exchanges, Binance is one of the few exceptions as it saw its its BTC reserves grow over the period — indicating that Binance users are exiting their BTC positions.
Binance BTC net position
According to numbers, Binance added a total of 78,000 BTC to its reserves, equating to around $1.2 billion at the time of writing.
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