Binance BTC outflows quiet, users avoid panic selling amid asset freeze.

Despite Bitcoin (BTC) hitting its lowest price in three months, hodlers did not panic sell, according to on-chain data analyzed by Glassnode. BTC investors seem to have largely ignored recent legal battles involving crypto exchanges. The latest data on on-chain transactions shows that few investors were in “panic sell” mode, even after the dip in BTC/USD to just $25,350 on June 6. Glassnode’s chart showed that realized losses stayed cool, which was a shift in sentiment for the investor base as a whole. This contrasts with the events that occurred after the FTX exchange implosion in late 2022, which sparked over 10 times the realized losses recorded on June 5. The latest data also shows that major exchanges have seen only a modest decrease in BTC balances, indicating a lack of desire among users to remove their funds from hot wallets. Willy Woo, a statistician, noted that Binance customers did not seem to care about its legal issues, as not much BTC was leaving the exchange.

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