# Crypto: Pros Metric Flashing Green for 1st Time in Years Bodes Well for Bitcoin

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Last modified: 2022-07-07

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By Paul Ebeling · 2022-07-07
Tags: Shayne Heffernan on Investments, Luxury, Bullish, Lifestyle, Paul Ebeling, Bitcoin, Crypto, Education, crypto, Bitcoin, Knightsbridge Insights, Living, Knightsbridge, Featured, 2022, Business, Market, Money
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #bitcoin #bullish

$BTCUSD

"*A popular crypto analyst says an under-the-radar Bitcoin metric is* *approaching a positive trend that has not been unseen for* *years"*-- Paul Ebeling

In a new video, the anonymous host of InvestAnswers tells his 442,000 YouTube subscribers that Bitcoin withdrawals are about to exceed deposits for the 1st time in 6 yrs.

*“Over the last five or six years, I have never seen this phenomenon… People are withdrawing everything they can from exchanges… This is also despite the suspension of withdrawals…*

*The number of exchange deposits and withdrawals tend to have a very high correlation with spot prices.” *

The host says he believes the increase in withdrawals is a positive development for Bitcoin’s price. Bitcoin is trading at $20,483 at time of writing. The Top-ranked crypto asset by market cap is trading at roughly the same price it was a day ago and a wk ago, but it remains down more than 70% from its all-time high of $69,044, which it hit last November.

Crypto analytics firm Glassnode notes the number of customer deposits tends to be greater than withdrawals because exchanges process multiple withdrawals in a single transaction, compared to deposits, which are processed individually.

The increase in withdrawals indicates market caution and an increased focus on self-custody, according to the host of InvestAnswers.

Kuddos to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. [Click here](https://knights.app/login)

Have a prosperous day, Keep the Faith!

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