Today's Bittrex exchange withdrawal strategy has once again caused a surge in on-chain transaction volume

The Beijing Lian'an on-chain monitoring system found that from 00:00 to 1 am on December 5, Beijing time, there were tens of thousands of BTC-initiated transactions on the chain, so that some analysts believe that this reflects the activity of on-chain transactions. Today Beginning at 2 pm, the same pattern of transfers occurred again, causing the on-chain transaction volume to surge. In fact, these transactions originate from the latest Bitcoin withdrawal strategy of the exchange Bittrex, and the activity on the chain has not substantially improved.
According to analyst SXWK, Bittrex takes tens of thousands of BTCs as transaction inputs, and usually divides dozens to hundreds of units of BTC. These BTCs will then take the opportunity to further transfer to the corresponding address to complete the centralized withdrawal operation of the exchange. The remaining huge amount of BTC will enter a new address, repeated in a short period of time, which has resulted in the phenomenon of the surge of on-chain transaction value. Businesses that rely on data decision-making on the chain should be careful to rule out "interference" in this case.