It traded at the $46.8k mark at press time after recording a 0.5% correction in 24 hours.
The monthly flow of Bitcoin from such a large-scale exchange occurred several times in history, but most occurred after 12 March, 2020.
This demand-supply gap favored a continued price surge to the north especially after just 2 million BTC left in the circulation.
Since less supply is available while demand remains the same, the price of the asset would likely rise over the time.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.