• Nearly $400M in crypto liquidations over 24 hours pushed Bitcoin above $23k.
• Bitcoin’s strong price action continues as only 11.7% of all BTC now sits on exchanges.
• Almost $500 million in Bitcoin has been withdrawn from exchanges in the past 24 hours.

The cryptocurrency market has seen a surge of activity over the past 24 hours, as nearly $400 million in liquidations pushed Bitcoin above the $23,000 mark. This comes as more investors are becoming increasingly bullish on the leading cryptocurrency, with only 11.7% of all BTC now sitting on exchanges.

This is the lowest amount since December 2017, indicating that investors are increasingly looking to hold Bitcoin as a long-term investment. To further bolster this trend, almost $500 million in Bitcoin has been withdrawn from exchanges in the past 24 hours. This is a clear indication that investors are looking to move their holdings into personal wallets for safekeeping.

On the other hand, Ethereum has only seen around $100 million withdrawn from exchanges in the same time period. This could be due to the increased interest in other DeFi protocols and tokens, such as Uniswap, Aave, and SNX.

The increase in Bitcoin’s price has been attributed to a combination of factors, including institutional investors buying into the asset, as well as retail investors taking advantage of the current bull run. There is also an increasing amount of institutional money being invested in Bitcoin, which is helping to drive prices higher.

Overall, the market appears to be in a healthy state, with Bitcoin continuing to set new highs and other cryptocurrencies following suit. Investors would do well to keep an eye on the market as it continues to evolve, as it could lead to further gains in the near future.