Bitcoin whale volume from exchanges hits 9-year high as analysts call BTC price bottom
The last time Bitcoin whales moved this many coins from exchanges was when the BTC price was around $220 in 2015.
Bitcoin (BTC) whales, or addresses with over 1,000 BTC, or at least $64 million, have added 84,000 BTC in July despite the cryptocurrency market’s recent crab walk. What’s more, whales have been moving BTC from exchanges at the fastest pace since 2015.
Bitcoin whales continue accumulating and taking the coins off exchanges, despite the recent sluggish momentum in the BTC/USD pair.
Notably, Bitcoin whales with at least 1,000 BTC have moved the most Bitcoin out of exchanges since 2015, marking the biggest spike in nine years, according to the whale net position change metric by Glassnode. Around 64,000 BTC has left whale exchange balances in the past 30 days.
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Author: Zoltan Vardai
