This website uses cookies to ensure you get the best experience on our website


02nd Apr 2021
Dalmas Ngetich, for CryptoAltum News Team

Mass Exodus: Bitcoin Flowing out From Exchanges to HODLing Addresses

Bitcoin on-chain trackers, on Apr 1,observedblock transfers of Bitcoin from centralized exchanges to known hodling addresses. Thus far, trackers reveal that custodial ramps hold a mere 2.8 million coins. This coincides with renewed efforts from global investment banks, including Goldman Sachs and Morgan Stanley, to offer their wealthy private clients exposure toBitcoin-related funds. Also, Morgan Stanley, on Apr 1, filed with the SEC, declaring adding BTC exposure to several institutional funds.


A combination of BTC scarcity and institutional demand could lift BTC/USD prices to $62k and a new all-time high in 2021. Presently, traders are left with little option but to scramble for the little coins left in exchanges with institutions. Some centralized exchanges already facilitate negotiated block purchases, compounding the scarcity. Already, PayPal has a checkout feature for their U.S. clients. Note that they have to buy coins from approved exchanges for account holders to readily pay goods and services straight from their closed portals.

Impact on the BTC Price:

Bullish. The BTC/USD price has defied gravity, soaking sell pressure. It is printing higher from institutional and retail demand. A break above $62k may provide even more opportunities for aggressive traders to add to their longs targeting $93k and over.

More market news over on ourBlog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020