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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-surge-as-whales-accumulate/" data-wpel-link="internal">Bitcoin Withdrawals Surge as Whales Accumulate</a> 
<a href="https://coin-turk.com/pentoshi-onlar-olmasaydi-bitmistik-kriptonun-kahinin-son-piyasa-tahminleri" data-wpel-link="internal">Bitcoin</a> is experiencing an increase in withdrawals from centralized crypto exchanges, reaching an eight-month high and signaling a significant change in market dynamics. Interestingly, this trend coincides with rapid accumulation among crypto whales, indicating a transformative phase for Bitcoin’s valuation. 
<h2 style="text-align: justify" id="bitcoin-outflows-increase">Bitcoin Outflows Increase</h2> 
According to on-chain data provided by leading market firm IntoTheBlock, centralized exchanges have reached a peak in weekly net outflows. More than $540 million worth of Bitcoin was withdrawn this week, even before Sunday, marking the largest BTC outflow since June 2023. 
At the beginning of the week, Julio Moreno, research director at CryptoQuant, identified and shared with investors the largest one-hour Bitcoin outflow of the year from Coinbase. According to Moreno, 18,746 Bitcoins valued at $1 billion were moved in two transactions. 
Moreno’s statement was as follows: 
<blockquote> 
 The transactions have all the patterns that could be suggested: – Bitcoin is being monitored (entry consolidation, creating new addresses with large assets consisting of 866 or more Bitcoins) or – This is just an internal wallet reorganization. The first option means institutions are buying Bitcoin 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-319149" src="https://coin-turk.com/wp-content/uploads/2024/02/866-bitcoin-coin-turk-com.jpg" alt="" width="734" height="402"> 
The increasing movement of BTC away from centralized exchanges can be considered a bullish indicator, suggesting a decrease in the number of Bitcoins available for sale. Market observers note that funds may be moving from exchanges to wallets in anticipation of a potential price increase, especially with only two months left until Bitcoin’s halving. 
The reduction in the amount of Bitcoin held at major exchanges like <a href="https://en.coin-turk.com/binance-ceos-bull-statement-and-analysis-of-cryptocurrency-lawsuits/" data-wpel-link="internal">Binance</a> and Coinbase further confirms this trend. Data provided by Glassnode shows that the 2.3 million BTC currently on crypto exchanges is the lowest level seen since 2018. 
<h2 style="text-align: justify" id="crypto-whales-buying-btc">Crypto Whales Buying BTC</h2> 
Meanwhile, there is also an increase in the number of whales holding more than 1,000 BTC. On-chain data from Santiment indicates a 7.4% increase in these addresses over the past month, with 147 new BTC wallets reflecting the largest growth in two years. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-319150" src="https://coin-turk.com/wp-content/uploads/2024/02/3-694-bitcoin-coin-turk-com.jpg" alt="" width="755" height="492"> 
The purchases made by crypto whales are thought to signal increasing confidence in Bitcoin, while such events are generally known to precede significant price movements. 
CryptoQuant: 
<blockquote> 
 Large institutions growing their assets (1,000 to 10,000 Bitcoin) are associated with higher prices as they demonstrate increasing investment demand for Bitcoin. 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-withdrawals-surge-as-whales-accumulate/" data-wpel-link="internal">Bitcoin Withdrawals Surge as Whales Accumulate</a></h5>

Bitcoin Withdrawals Surge as Whales Accumulate

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