Bitcoin

<ul><li>Bitcoin whales significantly reduce holdings, with a record decline of -148,000 BTC/month in exchange inflows.</li><li>During a market rise past $31,000, whale inflow peaked at +16,300 BTC/day, accounting for 41% of all exchange inflows.</li><li>Whales displayed varied strategies: some with over 100,000 BTC increased holdings, while others adjusted based on initial sizes.</li></ul>In a historic move, Bitcoin whales have seen a massive departure, as revealed in a new analysis by @CryptoVizArt, a senior researcher at Glassnode. Moreover, Binance whales were responsible for 34% of selling pressure in the past month alone. These large players have played a pivotal role in determining the direction of recent market activities.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/163b3aa8ed3a4a339becb048e904a731.png">An interesting trend emerging from the study is a significant decrease in the overall balance of whale holdings on exchanges. The last month witnessed the largest drop ever in the monthly balance of whale inflows to exchanges, plummeting to -148,000 BTC/month. This substantial fall prompts questions regarding their underlying intentions and game plans.During the market surge beyond $31,000, there was an unprecedented surge in whale fund influxes to exchanges. Astonishingly, this resulted in an inflow of +16,300 BTC/day. This dominant force represented a whopping 41% of all exchange inflows, a figure comparable to the LUNA crash at 39% and FTX's demise at 33%.Read full article at <a href="https://cryptotale.org/bitcoin-sees-unprecedented-whale-exodus-heres-the-lowdown/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin Sees Unprecedented Whale Exodus: Here's the Lowdown

CryptoTale

Other articles published on Jul 25, 2023

Binance to File Motion to Dismiss CFTC Complaint

SEC Accuses Binance.US of Inflating Trading Volumes

DeCipher: A Novel ChatGPT-based Service for Web3 Developers, Enabling Precise Documentation Gener...

Market Frictions And Price Delays In Cryptocurrency Markets

Grimace deploys on DogeChain, plans to launch DEX and P2E game

Binance responds to CFTC claims, pursues complaint dismissal

Join our free newsletter for daily crypto updates!