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Bitcoin Holds Above $90,000 as Binance Withdrawals Hit Highest Since 2018

Investor movement to cold wallets reflects long-term holding sentiment, with Binance seeing a spike in withdrawals and a sharp drop in deposits.

BTC

Summary

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Terms & Concepts
  • Cold wallet: An offline cryptocurrency storage method used to enhance security against hacks or theft.
  • Withdrawal transactions: Transfers of funds from an exchange to external wallets, often signaling changes in investor sentiment.
  • Deposits: Transfers of cryptocurrency into an exchange, typically used for trading or selling.