PiCK
"Bitcoin whale transfers to exchanges surge... Weekly average of 12,000 BTC moved"
Minseung Kang
Summary
- Glassnode reported that transfers from Bitcoin whale wallets to exchanges are increasing again.
- It stated that over the past 7 days, an average of 12,000 BTC has moved to exchanges—one of the highest levels so far this year.
- Glassnode analyzed that this pattern could indicate possibilities of profit-taking or capital reallocation.
There are observations that transfers from whale wallets holding large amounts of Bitcoin (BTC) to virtual asset (cryptocurrency) exchanges are increasing again.
On the 18th (local time), on-chain data analysis firm Glassnode stated, "The 7-day moving average (SMA) of the amount moved from Bitcoin whale addresses to exchanges is approaching about 12,000 BTC," adding, "This is among the highest levels this year and is similar to the spike seen in early November last year."
Glassnode analyzed, "Although it is still lower than last year’s peak, it may be a signal indicating the possibility of profit-taking or capital reallocation."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
