Bitcoin

<p>A recent development in the <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> market has seen a significant accumulation by the whales. As per Lookonchain, a popular on-chain analytics firm, a couple of whales have withdrawn a cumulative amount of up to 3,463 $BTC with a value of $219M from the prominent crypto exchange Binance in the past twelve hours. The analytics provider disclosed this on its official social media account.</p><h2 id="header-0">Bitcoin Whales Amass $219M in $BTC Through Big Withdrawals from Binance</h2><p>Lookonchain pointed out that this significant Bitcoin accumulation by such big investors triggers speculation within the overall crypto community. The large $BTC holders or whales can significantly affect the market because of the large size of the transfers they carry out. Several say that the recent $BTC withdrawals from <a href="https://binance.com/" rel="noopener noreferrer nofollow">Binance</a> indicate confidence in the chief crypto token.</p><h2 id="header-1">These Withdrawals May Result in Price Appreciation or Market Manipulation</h2><p>Usually, this is when such whales shift big $BTC sums from crypto exchanges to their private wallets. The respective activity signifies that they intend to hold the assets instead of offloading them. Such a behavior often denotes a mounting confidence in Bitcoin’s long-term prospects. In recent weeks, Bitcoin has been witnessing a renewal in upward momentum. At this point, the big by these whales can decrease Bitcoin’s circulating supply to a further extent. This could pave the way for heightened buying pressure as well as likely price appreciation.</p><p>On the other hand, some market onlookers caution that this event could additionally lead to an influence on the market. While the crypto market keeps on evolving, the large-scale investors’ behavior remains a chief factor in comprehending the market dynamics.</p>

Bitcoin Whales Accumulate $219M worth of $BTC in Major Binance Withdrawals

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