Bitcoin transactions hit the highest point in almost two months amid regulatory heat. Yet, money flowed out of the market.
Although active addresses showed the number of unique senders and receivers, the hike did not entirely imply that these participants were buying BTC.
While this suggested significant activity for Bitcoin, it tilted more toward investors’ action to move assets away from exchanges and into self-custody. Lately, Binance and Coinbase, two of the world’s largest exchanges with high trading volumes, were served court papers by the U.S. SEC. This resulted in a high rate of outflows from both platforms.the $25,000 mark. Also, the regulatory issues and hike in transactions propelled an increase in Bitcoin’s social dominance.in the crypto community that is connected to an asset. So, the increase means that attention toward the BTC spiked.
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