{"id":530972,"date":"2023-05-10T15:00:49","date_gmt":"2023-05-10T15:00:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=530972"},"modified":"2024-06-11T08:16:52","modified_gmt":"2024-06-11T08:16:52","slug":"should-you-worry-about-bitcoin-withdrawals-on-exchanges-new-data-sheds-light","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/should-you-worry-about-bitcoin-withdrawals-on-exchanges-new-data-sheds-light\/","title":{"rendered":"Should You Worry About Bitcoin Withdrawals On Exchanges? New Data Sheds Light"},"content":{"rendered":"<p><strong>Bitcoin holders have been paying attention to the amount of BTC leaving crypto exchange platforms. Over the past week, the cryptocurrency\u2019s liquidity has been moving, raising concerns about the stability of these venues and that marketmakers might be exiting the space. <\/strong><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-funding-rates-bitmex-deep-red-why-bullish\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Funding Rates On BitMEX Turn Deep Red, Here\u2019s Why This Is Bullish<\/a><\/div>\n<p>As the U.S. faces a banking crisis, crypto exchanges crumble, and uncertainty in the macroeconomic landscape increases, investors are vulnerable to Fear, Uncertainty, and Doubt (FUD). A specific type of news and narrative creates fear in the crypto market.<\/p>\n<p>Bitcoin itself was negatively reacting to this news; as fear spiked, the price of BTC took a turn for the downside. Despite today\u2019s profits, the cryptocurrency has recorded a 2.2% loss in the past seven days as of this writing.<\/p>\n<figure id=\"attachment_530998\" aria-describedby=\"caption-attachment-530998\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-530998 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Bitcoin-BTC-BTCUSDT-1.png?resize=860%2C394\" alt=\"Bitcoin BTC BTCUSDT\" width=\"860\" height=\"394\"><figcaption id=\"caption-attachment-530998\" class=\"wp-caption-text\">BTC&#8217;s price with positive performance on the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/hstM8J8q\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\"><strong>BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n<h2>Crypto Exchange Bleed Bitcoin? Data Clears The Air<\/h2>\n<p>Crypto analytics firm Jarvis Labs <a href=\"https:\/\/twitter.com\/Jarvis_Labs_LLC\/status\/69524480\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> data from two sources regarding the Bitcoin liquidity on exchanges to address these concerns. The first piece of data comes from Conor Ryder, a researcher at Kaiko, who claimed that Bitcoin\u2019s market depth on exchanges remains unchanged.<\/p>\n<p>The data is associated with Binance\u2019s U.S. subsidiary, where investors pay a premium to purchase BTC compared to other platforms, such as Coinbase and Kraken. The premium emerged due to Binance.US losing the capacity to provide an efficient crypto-to-fiat offramp.<\/p>\n<p>The U.S. crypto exchange has been suffering after losing its bank connection due to increased scrutiny from the Securities and Exchange Commission (SEC). The analyst <a href=\"https:\/\/twitter.com\/ConorRyder\/status\/84398594\" target=\"_blank\" rel=\"noopener nofollow\">stated<\/a> the following while sharing the chart below:<\/p>\n<blockquote><p>People spotting a BTC premium on Binance US and seem to be jumping the gun saying its a big market maker pulling funds. No change in market depth on the exchange makes me nearly certain this isn&#8217;t the case yet IMO more likely Binance US offering slower USD withdrawal times after their struggles to get banked (\u2026).<\/p><\/blockquote>\n<figure id=\"attachment_530996\" aria-describedby=\"caption-attachment-530996\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-530996 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/05\/Bitcoin-BTC-BTCUSDT-Chart-2.jpeg?resize=860%2C467\" alt=\"Bitcoin BTC BTCUSDT Chart 2\" width=\"860\" height=\"467\"><figcaption id=\"caption-attachment-530996\" class=\"wp-caption-text\">BTC&#8217;s market depth unchanged since late April, 2023. Source: Kaiko<\/figcaption><\/figure>\n<p>The chart above shows that BTC\u2019s market depth has seen almost no changes since late April. The rumors about marketmakers leaving the space began circulating due to a Bloomberg report claiming that two of the largest, <a href=\"https:\/\/finance.yahoo.com\/news\/jane-street-jump-moving-away-022926733.html\" target=\"_blank\" rel=\"noopener nofollow\">Jane Street and Jump, are scaling back on their crypto trading operations<\/a>.<\/p>\n<p>The decision follows an increase in regulatory oversight, but it only seems to apply to the U.S. market. According to Kaiko and liquidity provider Macro Cephalopod, international crypto trading venues seem unaffected.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Here you go, average quoted size at bbo for Binance BTCUSDT (in USDT) plotted with volatility, as you can see there is almost no change since start of Apr, and the main determinant of top of book size is vol (when vol goes up, MMs quote smaller, when it drops MMs quote bigger) <a href=\"https:\/\/t.co\/MtV5CcsfP5\" rel=\"nofollow\">https:\/\/t.co\/MtV5CcsfP5<\/a> <a href=\"https:\/\/t.co\/KTWCdZRsU5\" rel=\"nofollow\">pic.twitter.com\/KTWCdZRsU5<\/a><\/p>\n<p>\u2014 cephalopod (@macrocephalopod) <a href=\"https:\/\/twitter.com\/macrocephalopod\/status\/44440322?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 10, 2023<\/a><\/p><\/blockquote>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/analysis\/xrp\/ripple-ceo-rebuts-weblogs-founders-claims-that-xrp-is-a-security\/\" target=\"_blank\" rel=\"noopener \">Ripple CEO Rebuts WeBlogs Founder\u2019s Claims That XRP Is A Security<\/a><\/div>\n<p>In that sense, Bitcoin\u2019s liquidity and market depth is liquidity to change in the short term except for U.S.-based crypto investors. The latter could find it more difficult to gain exposure to the asset as the SEC and other regulators enforce their approach to crypto companies.<\/p>\n<p>Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin holders have been paying attention to the amount of BTC leaving crypto exchange platforms. Over the past week, the cryptocurrency\u2019s liquidity has been moving, raising concerns about the stability of these venues and that marketmakers might be exiting the space. Related Reading: Bitcoin Funding Rates On BitMEX Turn Deep Red, Here\u2019s Why This Is Bullish As the U.S. faces a banking crisis, crypto exchanges crumble, and uncertainty in the macroeconomic landscape increases, investors are vulnerable to Fear, Uncertainty, and Doubt (FUD). A specific type of news and narrative creates fear in the crypto market. Bitcoin itself was negatively reacting to this news; as fear spiked, the price of BTC took a turn for the downside. Despite today\u2019s profits, the cryptocurrency has recorded a 2.2% loss in the past seven days as of this writing. Crypto Exchange Bleed Bitcoin? Data Clears The Air Crypto analytics firm Jarvis Labs shared data from two sources regarding the Bitcoin liquidity on exchanges to address these concerns. The first piece of data comes from Conor Ryder, a researcher at Kaiko, who claimed that Bitcoin\u2019s market depth on exchanges remains unchanged. The data is associated with Binance\u2019s U.S. subsidiary, where investors pay a premium to purchase BTC compared to other platforms, such as Coinbase and Kraken. The premium emerged due to Binance.US losing the capacity to provide an efficient crypto-to-fiat offramp. The U.S. crypto exchange has been suffering after losing its bank connection due to increased scrutiny from the Securities and Exchange Commission (SEC). The analyst stated the following while sharing the chart below: People spotting a BTC premium on Binance US and seem to be jumping the gun saying its a big market maker pulling funds. No change in market depth on the exchange makes me nearly certain this isn&#8217;t the case yet IMO more likely Binance US offering slower USD withdrawal times after their struggles to get banked (\u2026). The chart above shows that BTC\u2019s market depth has seen almost no changes since late April. The rumors about marketmakers leaving the space began circulating due to a Bloomberg report claiming that two of the largest, Jane Street and Jump, are scaling back on their crypto trading operations. The decision follows an increase in regulatory oversight, but it only seems to apply to the U.S. market. According to Kaiko and liquidity provider Macro Cephalopod, international crypto trading venues seem unaffected. Here you go, average quoted size at bbo for Binance BTCUSDT (in USDT) plotted with volatility, as you can see there is almost no change since start of Apr, and the main determinant of top of book size is vol (when vol goes up, MMs quote smaller, when it drops MMs quote bigger) https:\/\/t.co\/MtV5CcsfP5 pic.twitter.com\/KTWCdZRsU5 \u2014 cephalopod (@macrocephalopod) May 10, 2023 Related Reading: Ripple CEO Rebuts WeBlogs Founder\u2019s Claims That XRP Is A Security In that sense, Bitcoin\u2019s liquidity and market depth is liquidity to change in the short term except for U.S.-based crypto investors. The latter could find it more difficult to gain exposure to the asset as the SEC and other regulators enforce their approach to crypto companies. Cover image from Unsplash, chart from Tradingview<\/p>\n","protected":false},"author":535,"featured_media":530974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790],"class_list":["post-530972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Should You Worry About Bitcoin Withdrawals On Exchanges? 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/ktsl888.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Should You Worry About Bitcoin Withdrawals On Exchanges? 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/ktsl888.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Should You Worry About Bitcoin Withdrawals On Exchanges? 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