Bitcoin Sees 2,721 BTC Net Outflow From Major Exchanges in Past 7 Days as Funding Rates Turn Neutral
Summary
- BlockBeats reported that centralized exchanges recorded a net outflow of 2,721.19 BTC over the past seven days.
- Bithumb saw a net outflow of 6,058.26 BTC and Kraken a net outflow of 3,470.62 BTC, but net inflows at other exchanges reduced the overall net outflow.
- Bitcoin has risen sharply this week, while funding rates across major CEXs and DEXs are at neutral levels.
Forecast Trend Report by Period
Bitcoin recorded a net outflow of more than 2,700 BTC from centralized exchanges over the past week, even as funding rates across major trading venues returned to neutral after the token's sharp rise this week.
Crypto-focused media outlet BlockBeats, citing CoinGlass data, reported on August 22 that centralized exchanges posted a combined net outflow of 2,721.19 BTC over the past seven days.
Bithumb logged the largest net outflow at 6,058.26 BTC, while Kraken recorded a net outflow of 3,470.62 BTC. The total net outflow was smaller than those individual figures because other exchanges saw net Bitcoin inflows.
Funding rates across major centralized and decentralized exchanges have meanwhile remained broadly neutral as Bitcoin holds onto gains after this week's sharp advance.
Funding rates are payments exchanged between long and short traders to keep perpetual futures prices aligned with spot prices. In general, higher funding rates indicate heavier positioning in long bets, while lower rates suggest a stronger tilt toward shorts.
