Bitmex has seen net outflows of $73 million worth of Bitcoin in 24 hours. This followed reports that the CFTC was investigating the exchange for allegedly servicing US traders.
Panic Leaving Or Business As Usual?
The outflows were first reported in a tweet from London-based Token Analyst. Most of the listed exchanges (Binance, Bitstamp, Bittrex, and Poloniex) have similar amounts flowing both in and out. However Bitmex is notable for its disparity, with only $12 million coming in, whilst $85 million has flowed out.
24H BTC exchange on-chain flows:#binance: $58M in | $54M out#bitstamp: $52M in | $50M out#bittrex: $4M in | $5M out#poloniex: $6M in | $4M out#bitmex: $12M in | $85M out
See more at https://t.co/6AFFM1D63p
— TokenAnalyst (@thetokenanalyst) July 20, 2019
Some speculated that this was due to panic leaving. News broke yesterday that the Commodity Futures Trading Commission (CFTC) is allegedly investigating the exchange. However, many countered that considering the volume of BTC on the Bitmex platform, it perhaps…