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

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