News

Bitcoin Market Braces For Volatility Surge Amid Record ETF Outflows And Wallet Shifts

The Bitcoin options market is witnessing record volatility levels, reaching the highest point since April, according to Glassnode.

This spike suggests that traders are bracing for potential major price swings, reflecting an atmosphere of intense anticipation and uncertainty as Bitcoin navigates turbulent market conditions.

Adding to the market’s uncertainty, Bitcoin is seeing a substantial reduction in active wallets. Over the past three weeks, there’s been a drop of 211,500 non-empty Bitcoin addresses—a sign of Fear, Uncertainty, and Doubt (FUD) often preceding bullish price rebounds. Meanwhile, Santiment reports an 11,600 drop in USDC wallets over a single day this past weekend, indicating fluctuating stablecoin activity.

Interestingly, Dogecoin wallets are on the rise, with an increase of 46,400 in just a week, suggesting speculative interest in memecoins, even after last week’s peak.

In a significant move, Mt. Gox recently transferred 32,371 BTC (valued at $2.19 billion) across three new wallets.

Over the last four days, a total of 32,871 BTC ($2.22 billion) has been moved, including 296 BTC ($20.13 million) sent to B2C2 and OKX, leaving around 12,006 BTC ($810 million) in known Mt. Gox wallets.

Related Post

Bitcoin Spot ETFs Market Recorded Notable Outflows 

The U.S. Bitcoin ETF market has also been impacted, with a record outflow of $540.9 million on November 4—just before the U.S. election and marking the second-largest outflow on record.

Notable funds like 21Shares (ARKB) and Bitwise (BITB) experienced significant withdrawals, though BlackRock’s ETF (IBIT) saw an inflow of 569 BTC ($38.6 million), hinting at continued institutional interest.

As Bitcoin faces this complex market phase with record volatility, substantial outflows, and shifting wallet behaviors, investors remain watchful, assessing whether these signals hint at an impending price rebound or further uncertainty ahead.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: ximagination/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

4 hours ago

Binance Coin Whales Reap Big Profits as Polkadot Struggles; A New Crypto Presale Is Dominating Investor Attention

BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…

6 hours ago

Three Crypto That Surprised The Market: Rollblock, Cardano, and XRP

The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…

6 hours ago

As Bonk (BONK) and Pepe (PEPE) Shine, Rollblock (RBLK) Captures the Market’s Attention With Upcoming Reveal

Meme coins are back with a bang and are as insanely volatile as ever! Bonk…

6 hours ago

2024’s Top 9 Crypto Staking Platforms to Make Passive Income

Staking has become one of the most effortless ways to generate passive income in the…

9 hours ago

Qubetics, Algorand, and Near Protocol: Best Cryptos to Buy in November 2024

Qubetics, Algorand, and Near Protocol: The Best Cryptos to Buy in November 2024—Which One Is…

20 hours ago