Bitcoin Whales Ignite, Sending $288,000,000 in BTC in Flood of Transfers – Here’s Where the Crypto Is Heading

A number of high net worth crypto investors known as whales are moving hundreds of millions of dollars in Bitcoin as the cryptocurrency’s price trade above $9,600.

In the last 24 hours, the crypto whale watcher bot Whale Alert tracked 10 large transactions to the tune of 29,986 BTC, worth about $288 million at time of writing.

Three transfers sent 13,049 BTC worth $124.8 million from Binance to wallets of unknown origin, following the recent trend that has seen whales leaving exchanges en masse.

Four transfers moved 10,294 BTC worth $99.2 million from unknown wallets to crypto exchanges Binance and OKEx, where it could potentially be sold on the open market. The last three transactions involve crypto moving between exchanges or from crypto custody platforms to exchanges.

• 5,864 BTC worth $56.0 million sent from Binance to unknown wallet• 5,000 BTC worth $47.7 million sent from Binance to unknown wallet• 1,500 BTC worth $14.4 million sent from OKEx to Binance • 2,593 BTC worth $25.0 million sent from unknown wallet to Binance • 3,107 BTC worth $30.0 million sent from unknown wallet to OKEx• 4,000 BTC worth $38.6 million sent from OKEx to Binance• 1,143 BTC worth $11.0 million sent from Xapo to unknown wallet• 2,593 BTC worth $25.0 million sent from Xapo to OKEx• 2,185 BTC worth $21.0 million sent from Binance to unknown wallet• 2,001 BTC worth $19.2 million sent from unknown wallet to Binance 

New numbers from crypto intelligence platform Glassnode show that BTC balance on exchanges continues plummet, supporting the theory that whales are moving their BTC off of exchanges in droves, possibly in anticipation of a coming bull run.

“Bitcoin balance on exchanges just reached a one-year low of 2,622,984.499 BTC. Previous one-year low of 2,623,005.552 BTC was observed on 19 June, 2020.”

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