Shiba

Reserve Dollar

Bitcoin

Reserve

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-hit-record-high-as-market-shows-volatility/" data-wpel-link="internal">Bitcoin Withdrawals Hit Record High as Market Shows Volatility</a> 
Despite sharp declines in the cryptocurrency world today, a development is seen as a sign of a potential new rally. Accordingly, $750 million worth of <a href="https://coin-turk.com/bitcoin-40-000-dolara-ulasabilir-mi-populer-analistlerden-dikkat-ceken-btc-yorumlari" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoin-islem-ucretleri-dusmeye-devam-ediyor" data-wpel-link="internal">BTC</a>) was withdrawn from various cryptocurrency exchanges. This figure was recorded as the highest since May 2023. A large part of this withdrawal was carried out by the Bitfinex and Kraken exchanges, with $524 million and $130 million respectively. 
<h2 style="text-align: justify" id="bitcoin-price-peaks">Bitcoin Price Peaks</h2> 
This week, <a href="https://en.coin-turk.com/red-bull-racing-teams-up-with-tezos-in-crypto-partnership/" data-wpel-link="internal">Bitcoin</a> reached its fourth highest level of all time, increasing excitement. The outflow of Bitcoin from exchanges can be considered a positive indicator of long-term confidence in Bitcoin, as investors prefer to independently secure their assets. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-328713 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-bitcoin-coin-turk-com-1-5.png" alt="" width="566" height="519"> 
With investors pulling back from risky assets, Bitcoin fell below $70,000. This decline occurred after Bitcoin reached a new peak for the fifth time in the last seven days. Bitcoin retreated to $65,565 with a 9% drop. Other tokens such as <a href="https://coin-turk.com/upbitden-calinan-ethler-harekete-gecti" data-wpel-link="internal">Ethereum</a>, <a href="https://en.coin-turk.com/shiba-inu-price-predictions-and-current-shib-chart-comments/" data-wpel-link="internal">Shiba</a> Inu, and XRP also experienced the same downward trend. 
US stocks and cryptocurrency currencies saw a decline, despite signs of a slowdown in some economic sectors, as bets on a strong inflation report suggested the Federal Reserve would not rush to lower interest rates. Lower interest rates tend to increase the attractiveness of cryptocurrencies. 
<h2 style="text-align: justify" id="stable-support-zone-for-bitcoin">Stable Support Zone for Bitcoin</h2> 
While investors wait to determine the future of Bitcoin, cryptocurrency expert Ali Martinez believes there is a stable support zone between $64,750 and $66,700, based on 382,000 addresses holding over 275,000 <a href="https://en.coin-turk.com/max-keiser-warns-of-potential-us-government-seizure-of-bitcoin-in-etfs/" data-wpel-link="internal">BTC</a>. 
Martinez emphasizes that closely monitoring this level is critical; losing it could shift focus to the next significant demand zone between $60,760 and $62,790, supported by 797,500 addresses holding more than 298,000 Bitcoins. 
In parallel with these developments, Bitcoin, the flagship of cryptocurrencies, faces tough resistance between $70,180 and $71,340. This barrier is reinforced by 533,300 addresses holding a total of 433,000 Bitcoin. BTC was trading at $68,146 at the time of writing. 
Predicting the future movement of Bitcoin’s price is challenging, but a recovery from these levels could mean new peaks for BTC. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-hit-record-high-as-market-shows-volatility/" data-wpel-link="internal">Bitcoin Withdrawals Hit Record High as Market Shows Volatility</a></h5>

Bitcoin Withdrawals Hit Record High as Market Shows Volatility

Table of Contents

COINTURK NEWS

Other articles published on Mar 15, 2024

SEC May Reject Spot Ethereum ETFs! Obstacles Mounting!

India’s SEBI head wants instant settlement to counter crypto threat

Bitcoin Price Prediction: BTC Plunges 7% As Grayscale Moves $400M To Coinbase, But This Bitcoin H...

Why Did Bitcoin and Cryptocurrency Prices Drop Today? Here Are 4 Reasons!

Animoca Brands teams up with Blockpass for enhanced web3 security

Price Prediction: Why $SHIB, $DOGA and $DOGE Will Surge in 2024

Join our free newsletter for daily crypto updates!