Whales Withdraw Hundreds of Millions in BTC - Bullish Signal?
Since April 17, there has been significant activity in the market: according to OnchainDataNerd, Bitcoin whales have withdrawn more than $280 million in BTC from exchanges in just one day.
📊 Galaxy Digital withdrew 554 BTC ($76.7 million) from OKX and Binance. Abraxas Capital withdrew 1,854 BTC ($157.2 million) from Binance and Kraken. Two more large wallets transferred 545.5 BTC and 535.2 BTC (~$45.5 million each) from Coinbase.
↗️ Mass withdrawal of BTC from exchanges is a signal that whales are sending assets to cold wallets. This reduces selling pressure and often foreshadows a rise in prices.
📈 Glassnode 's report notes a surge in new investors, which could push the price higher in the short term. However, long-term holders (LTH) have slowed their accumulation, suggesting caution amid market volatility.
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