$200m of spot BTC re-enters exchanges on Binance as Genesis news filters through

Definition

• Breakdown of the net flow of coins into/out of exchanges by the USD value of the transactions.  

Quick Take

• $200M of Bitcoin (BTC) went back onto Binance, Jan. 20 — a similar amount to Jan. 13, which took us over $21k.
  
• The transfer is primarily institutional, as it is more than $10M.

• With the news of Genesis on top last night, this is encouraging to see BTC holding above $20k.

• The substantial transfers are coming from Binance, which is sparking market volatility.