Bitcoin Whales Withdraw Massive BTC Reserve From Exchanges, Impacting Bitcoin Price Surge
Bitcoin whales have been withdrawing a significant amount of BTC from exchanges in the past week, taking advantage of the surge in Bitcoin price past $73,000. Over 21,000 BTC was withdrawn this week, with a staggering $752 million worth of BTC withdrawn on Thursday, marking the highest single-day withdrawal since May 2023. This mass withdrawal has had a swift impact on the Bitcoin price, which experienced a notable crash on Friday, falling over 7%. However, the emergence of 13 new whales with holdings of over 1,000 BTC suggests growing interest in Bitcoin among large players.
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