Data revealed a massive outflow of 2,505 BTC (approximately 211 million dollars) from two different wallets. These transactions indicate the strategic moves of investors.
While the cryptocurrency market continues to move sideways, significant BTC transfers made by large investors continue to attract attention. The on-chain data platform Lookonchain announced that both a newly created wallet and a wallet associated with Abraxas Capital withdrew a large amount of Bitcoin.
In transactions that took place within the last 24 hours:
A newly created wallet withdrew 1,398 BTC (approximately 118.3 million dollars) from the Kraken exchange about 35 minutes ago.
The wallet associated with Abraxas Capital withdrew an additional 1,107 BTC (approximately 93.47 million dollars) from exchanges today.
Before this transfer, the same wallet had withdrawn 747 BTC (approximately 63.78 million dollars) from Binance after 2 months of inactivity.
The total outflows exceeding 211 million dollars particularly bring attention to the transition of institutional investors to off-exchange wallets and potential long-term holding strategies. Movements of large funds like Abraxas Capital and new wallets often carry significant signals for market expectations.
Investors may closely monitor these transfers to assess the possibility of a bullish expectation or the likelihood of an institutional buying trend.