$581 million of Bitcoin left centralized exchanges in a week.

Bitcoin (BTC) breached the $67,000 level — approaching $68,000 — as outflows from centralized exchanges keep rising.

IntoTheBlock data shows that over the last seven days, nearly $582 million worth of Bitcoin left centralized cryptocurrency exchanges. This is usually seen as a relatively bullish development since it decreases the amount of Bitcoin available for immediate sale — achieving effects similar to decreasing the supply.

The news follows recent reports that options traders are increasing bets that Bitcoin will reach a record high of $80,000 by the end of November. “I believe the market consensus is that Bitcoin is likely to perform well regardless of the election outcome,” said David Lawant, head of research at crypto prime broker FalconX.

Market data

As of the time of writing, Bitcoin is trading at just under $67,700 after seeing its price increase by over 2.2% over the last 24 hours. The world’s first cryptocurrency market cap stands at $1.33, and $33.4 billion worth of Bitcoin has changed hands on the exchanges over the last 24 hours.

At the time of writing, Ethereum (ETH) is trading at $2,520, having gained 0.25% in value over the last 24 hours. The second-largest cryptocurrency’s market cap stands at nearly $303.5 billion.

CoinMarketCap’s global charts show that the market cap of all the cryptocurrencies currently stands at $2.32 trillion. This is 2.2% higher than what was reported 24 hours ago and 0.87% higher than its value seven days ago.

The Crypto Fear & Greed Index, a multifactorial measure of crypto market sentiment, currently stands at 69, indicating that the crypto market is now overrun by greed. In such cases, the instrument is being interpreted as a warning of a possible imminent correction — but no instrument can guarantee any kind of market performance. The website reads:

“When Investors are getting too greedy, that means the market is due for a correction.”

Earlier today it was reported that Luxembourg-based security token offering investment platform STOKR has raised $7.99 million for its Bitcoin treasury project. The company announced that it intends to follow in the footsteps of MicroStrategy and focus on accumulating Bitcoin.