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New data from CryptoQuant indicates a significant increase in Bitcoin withdrawals from exchanges on Wednesday.
Approximately 32,000 BTC were withdrawn, worth around $2.26 billion, in just one day.
Weekly withdrawals also reached about 47,700 BTC, one of the highest levels recorded in the past year.
These withdrawals likely mean that investors are transferring Bitcoin to private wallets for long-term holding.
$BTC
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