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

In the last six hours, a significant crypto whale has 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 may signal an important movement in the crypto market.

Among these whale transfers, the most notable was an operation carried out by the long-dormant 37BnFf address. This wallet withdrew assets worth 800 Bitcoin (approximately 85.5 million dollars), seemingly aiming to reduce sales on exchanges. Another whale withdrew 190 Bitcoin (approximately 19.7 million dollars) through a new wallet named 3Qus8D, while the bc1qr9 address attracted attention by withdrawing 174 Bitcoin (approximately 18.6 million dollars). The total Bitcoin amount in this wallet reached 3,036 Bitcoin (approximately 315 million dollars).

According to experts, such exchange withdrawals are often associated with long-term holding (hodl) strategies and indicate a decrease in selling pressure in the markets. Particularly, the reactivation of wallets that had been dormant for a year suggests that institutional investors are employing a strategy of accumulating at the market's bottom levels. This situation supports comments that the Bitcoin price has gained strength at support regions around 106 thousand dollars.

While investors observe these large Bitcoin withdrawals, they should carefully assess market dynamics and price movements. Whales' actions of this nature can often herald larger price movements and may present an opportunity for investors to reevaluate their strategies.