Bitcoin ETF holdings in Canada set new highs, while the price rises

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Bitcoin ETF holdings in Canada set new highs, while the price rises

Bitcoin ETF holdings in Canada set new highs, while the price rises
Source: Finbold
1648028560 23 Mar / 09:42

There has been a significant outflow of Bitcoin (BTC) from multiple crypto exchanges after the popular digital asset recently broke past the $40,000 mark and has maintained its multi-day rally upward.

According to a figure posted by Bitcoin Archive on March 22 from the on-chain analytics platform Glassnode, over 61,000 Bitcoin has been removed from exchanges in just 15 days.

The amount that departed exchanges translates to nearly $2.6 billion, based on the price of Bitcoin at press time. The amount of Bitcoin on these exchanges 15 days prior to publishing was roughly 2.57 million BTC, while the exchange wallets had nearly 2.51 million BTC at press time.

According to statistics from another crypto analytics company, IntoTheBlock, which was provided the same day, as much as 15,000 BTC, or roughly $638 million, was removed from the exchanges in just one day.

The holdings of the Canadian Purpose Bitcoin ETF set new highs as the price rises.

The quantity of holdings of the Canadian Purpose Bitcoin exchange-traded fund (ETF) just touched an all-time high of 34,850 BTC as bullish enthusiasm for BTC grows.

According to Glassnode data tweeted by market expert Jan Wüstenfeld on March 22, this beats the previous record of 34,760 BTC set on March 3, 2022.

Finally, Bitcoin’s price was $42,556 at the time of publication, up 8.78 percent from seven days prior, when it was trading under the critical $40,000 level at $39,120.

According to CoinMarketCap data, the greatest cryptocurrency in this sense had a market capitalization of $807.90 billion, up $64.77 billion in just one week.

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