{"id":599548,"date":"2024-03-25T16:00:45","date_gmt":"2024-03-25T16:00:45","guid":{"rendered":"https:\/\/wncen.com\/?p=599548"},"modified":"2024-06-11T08:12:47","modified_gmt":"2024-06-11T08:12:47","slug":"bitcoin-whales-2-3-billion","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whales-2-3-billion\/","title":{"rendered":"Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?"},"content":{"rendered":"

Bitcoin whales <\/span>have been very active<\/span><\/a> in the past few days as the crypto continues to trade below $68,000. Notably, on-chain data has shown a trend of accumulation among Bitcoin whales, with large bouts of the cryptocurrency leaving crypto exchanges into private wallets.\u00a0 These massive transfers appear to have piqued the interest of a few investors who are keeping a watchful eye, as this accumulation pattern points to a price increase up ahead.\u00a0<\/span><\/p>\n

According to various posts by whale transaction tracker Whale Alerts, Bitcoin whales have recently transferred $2.3 billion worth of BTC in a span of 24 hours, indicating their bullish sentiment. Similarly, crypto analyst Ali Martinez recently revealed that over 25,000 BTC worth approximately $1.60 billion had been transferred into accumulation addresses.<\/span><\/p>\n

Bitcoin Whale Accumulation Signal Price Surge Ahead<\/h2>\n

Bitcoin has largely <\/span>traded below $69,000<\/span><\/a> since March 15, struggling to regain the momentum that saw it <\/span>shooting past $70,000<\/span><\/a> earlier in the month. Interestingly, Bitcoin fell to as low as $61,766 last week, representing a 16% decline from its all-time high.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Whales Go On Massive Buying Spree, Here\u2019s How Much They\u2019ve Bought<\/a><\/div>\n

Meanwhile, Spot Bitcoin ETFs <\/span>saw consistent outflows<\/span><\/a> throughout the week which was spearheaded by Grayscale’s GBTC and weak inflows into BlackRock’s IBIT and Fidelity’s FBTC. This decline became much of a concern for investors as it signaled the bullish sentiment surrounding BTC <\/span>might finally be coming to an end.<\/span><\/a><\/p>\n

However, on-chain data is now telling a different tale of a strong bullish sentiment from Bitcoin whales. Data from Whale Alerts show large amounts of BTC leaving crypto exchanges, one of which was a transfer of 8,136 BTC worth $517 million <\/span>from Coinbase<\/span><\/a> into a new private wallet. Shortly after, 8,172 BTC worth $519 million <\/span>were transferred from Coinbase<\/span><\/a> into another new private wallet. Interestingly, the different alerts from the whale tracker added up to $2.3 billion worth of BTC to and from crypto exchanges on March 22.\u00a0<\/span><\/p>\n

Analyst Ali Martinez noted that these transfers added up to $1.6 billion being added into accumulation addresses, the largest inflow so far this year.\u00a0<\/span><\/p>\n

\n

Yesterday, over 25,000 #Bitcoin<\/a>, valued at approximately $1.60 billion, were transferred to accumulation addresses, marking the highest inflow to these $BTC<\/a> wallets so far this year! pic.twitter.com\/mAIHkG9ROC<\/a><\/p>\n

\u2014 Ali (@ali_charts) March 23, 2024<\/a><\/p><\/blockquote>\n

According to <\/span>CryptoQuant data<\/span><\/a>, this accumulation trend has seen the Bitcoin reserves on exchanges on a downtrend since March 21. At the time of writing, the Bitcoin exchange reserve is at 1.98 million BTC.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Sees Notable Rise In Daily Activity, But Why Is Price Down?<\/a><\/div>\n

Basically, whale accumulation tends to swing the balance into bullish among other traders. Fundamentals surrounding Bitcoin like the upcoming halving point to price growth in the near future, <\/span>making it an ideal time<\/span><\/a> for investors to <\/span>position themselves<\/span><\/a> in the market.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at $67,478. A key price level to watch is $69,000. If Bitcoin breaks above this resistance level, it <\/span>could continue surging higher<\/span><\/a> with the accumulation trend.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price at $67,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from GoBankingRates, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin whales have been very active in the past few days as the crypto continues to trade below $68,000. Notably, on-chain data has shown a trend of accumulation among Bitcoin whales, with large bouts of the cryptocurrency leaving crypto exchanges into private wallets.\u00a0 These massive transfers appear to have piqued the interest of a few investors who are keeping a watchful eye, as this accumulation pattern points to a price increase up ahead.\u00a0 According to various posts by whale transaction tracker Whale Alerts, Bitcoin whales have recently transferred $2.3 billion worth of BTC in a span of 24 hours, indicating their bullish sentiment. Similarly, crypto analyst Ali Martinez recently revealed that over 25,000 BTC worth approximately $1.60 billion had been transferred into accumulation addresses. Bitcoin Whale Accumulation Signal Price Surge Ahead Bitcoin has largely traded below $69,000 since March 15, struggling to regain the momentum that saw it shooting past $70,000 earlier in the month. Interestingly, Bitcoin fell to as low as $61,766 last week, representing a 16% decline from its all-time high.\u00a0 Related Reading: Dogecoin Whales Go On Massive Buying Spree, Here\u2019s How Much They\u2019ve Bought Meanwhile, Spot Bitcoin ETFs saw consistent outflows throughout the week which was spearheaded by Grayscale’s GBTC and weak inflows into BlackRock’s IBIT and Fidelity’s FBTC. This decline became much of a concern for investors as it signaled the bullish sentiment surrounding BTC might finally be coming to an end. However, on-chain data is now telling a different tale of a strong bullish sentiment from Bitcoin whales. Data from Whale Alerts show large amounts of BTC leaving crypto exchanges, one of which was a transfer of 8,136 BTC worth $517 million from Coinbase into a new private wallet. Shortly after, 8,172 BTC worth $519 million were transferred from Coinbase into another new private wallet. Interestingly, the different alerts from the whale tracker added up to $2.3 billion worth of BTC to and from crypto exchanges on March 22.\u00a0 Analyst Ali Martinez noted that these transfers added up to $1.6 billion being added into accumulation addresses, the largest inflow so far this year.\u00a0 Yesterday, over 25,000 #Bitcoin, valued at approximately $1.60 billion, were transferred to accumulation addresses, marking the highest inflow to these $BTC wallets so far this year! pic.twitter.com\/mAIHkG9ROC \u2014 Ali (@ali_charts) March 23, 2024 According to CryptoQuant data, this accumulation trend has seen the Bitcoin reserves on exchanges on a downtrend since March 21. At the time of writing, the Bitcoin exchange reserve is at 1.98 million BTC.\u00a0 Related Reading: Ethereum Sees Notable Rise In Daily Activity, But Why Is Price Down? Basically, whale accumulation tends to swing the balance into bullish among other traders. Fundamentals surrounding Bitcoin like the upcoming halving point to price growth in the near future, making it an ideal time for investors to position themselves in the market.\u00a0 At the time of writing, Bitcoin is trading at $67,478. A key price level to watch is $69,000. If Bitcoin breaks above this resistance level, it could continue surging higher with the accumulation trend. BTC price at $67,000 | Source: BTCUSD on Tradingview.com Featured image from GoBankingRates, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":599556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,537,656,679,19064,1119,89185,1122,83757,1144,78790],"class_list":["post-599548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-exchanges","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btc-whales","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?<\/title>\n<meta name=\"description\" content=\"Bitcoin whales have been very active in the past few days as the crypto 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?","url":"http:\/\/wncen.com\/news\/bitcoin-whales-2-3-billion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-whales-2-3-billion\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin-price-1.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin-price-1.jpeg?fit=299%2C168"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin exchanges","bitcoin news","bitcoin price","bitcoin whales","btc","btc news","btc price","btc whales","btcusd","btcusdt"],"dateCreated":"2024-03-25T16:00:45Z","datePublished":"2024-03-25T16:00:45Z","dateModified":"2024-06-11T08:12:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-2-3-billion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-2-3-billion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin-price-1.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin-price-1.jpeg?fit=299%2C168\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin exchanges\",\"bitcoin news\",\"bitcoin price\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btc whales\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-03-25T16:00:45Z\",\"datePublished\":\"2024-03-25T16:00:45Z\",\"dateModified\":\"2024-06-11T08:12:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin-price-1.jpeg?fit=299%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/599548"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=599548"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/599548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/599556"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=599548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=599548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=599548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}