Bitcoin Exchange Withdrawals Suggests Whales Are Accumulating
Bitcoin exchange withdrawals and deposits can often be a way to gauge how investors are looking at a digital asset. This is why there are often products that track the movement of bitcoin in and out of exchanges. One of these is WhaleAlerts, a bot that tracks large transactions across various blockchains and recently, a number of large transactions have shown whales may be accumulating. Bitcoin Whales Go Hard On Friday, WhaleAlerts noted a number of large transactions that were being carried out on the Coinbase platform. These transactions consisted of hundreds of millions of dollars worth....
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Recent on-chain data suggests that Bitcoin (BTC) whales may be preparing for a potential rally, as Binance BTC withdrawals have seen a notable spike. Additionally, rising stablecoin inflows to exchanges indicate growing buy-side liquidity, reinforcing the market’s bullish sentiment. Bitcoin Whales Foreseeing Major Rally Ahead? According to a recent CryptoQuant Quicktake post by contributor Amr Taha, Bitcoin whales recorded one of the largest BTC outflows from Binance this month. The chart below shows that nearly 4,500 BTC were withdrawn on June 16. Bitcoin whales are defined as wallet....