Bitcoin Inflows to Crypto Exchanges Fall to Lowest Level in 2 Years

Bitcoin trading volume on spot exchanges rose to a yearly high in September. However, BTC has been in a tight range all this time. According to a report by Glassnode, the asset was unable to hold above $20,000.

The company researchers attribute the surge in activity of traders to the abolition of commissions on Binance. At the same time, fees remained high on exchanges such as Coinbase. Most of the transactions were implemented by retail traders.

Institutional investors mostly exited Bitcoin, as big capital sold risky assets in the stock markets.

In October, activity began to fall, and the influx of cryptocurrencies to exchanges fell to the lowest level since 2020. According to Santiment experts, the amount of BTC on the trading floors is at its lowest level since November 2018.