$BEL $BTC $SOL On-chain Data
It was discovered that over 8,000 BTC flowed out of Coinbase from yesterday to today.
ETF saw a net outflow yesterday, and the funds in the crypto space have been bottom-fishing all week.
This week, Kraken had a total outflow of 50,000 BTC.
This week, Coinbase saw an outflow of 19,000 BTC.
Together, the two exchanges had a total outflow of 70,000 BTC.
In this round of decline, the whales accumulated a large amount of BTC.
Wallets holding more than 100 BTC increased, while wallets holding less than 1 BTC decreased.
This reflects a scenario: retail investors are cutting losses, while capital is hoarding coins.
