Large Withdrawal from Bitcoin Whales: 1,164 BTC in 6 Hours

In the last six hours, a number of large crypto whales have attracted attention by withdrawing a total of 1,164 Bitcoin (BTC) from exchanges. According to data provided by the crypto analysis platform Lookonchain, these withdrawals could be a sign of significant movement in the crypto market.

Among these whale transfers, the most noteworthy was the transaction conducted by the long-inactive 37BnFf address. This wallet withdrew 800 Bitcoin (approximately 85.5 million dollars) worth of assets, seemingly aiming to reduce sales on exchanges. Another whale withdrew 190 Bitcoin (approximately 19.7 million dollars) through a newly established wallet identified as 3Qus8D, while the bc1qr9 address attracted attention by withdrawing 174 Bitcoin (approximately 18.6 million dollars). The total amount of Bitcoin in this wallet has reached 3,036 Bitcoin (approximately 315 million dollars).

Experts suggest that such exchange withdrawals are typically associated with long-term holding (hodl) strategies and indicate a decrease in selling pressure in the markets. Particularly the reactivation of wallets that have been inactive for an entire year signals that institutional investors are following a strategy of accumulating at the market's bottom levels. This situation supports comments that the Bitcoin price is gaining strength around support levels of approximately 106,000 dollars.

As investors monitor these high-volume Bitcoin withdrawals, they should carefully assess market dynamics and price movements. Such actions by whales can often be harbingers of larger price movements and may present an opportunity for investors to reconsider their strategies.