Bitcoin bulls rejoice: YTD high in sight – further $200M BTC withdrawn from exchanges

Quick Take

• Yesterday, $200 million worth of Bitcoin was withdrawn from exchanges.
• This adds to the continuation of Bitcoin being taken off exchanges.
• Roughly 34,000 Bitcoin have been taken off exchanges in the past nine days.
• There was also a short squeeze — as the perpetual funding rate was negative.
• Premium on puts started to go higher, according to Options 25 Delta Skew ( 1 Week).

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