Whale withdraws 800 Bitcoin from Bitfinex in 24 hours

When large amounts of Bitcoin move off exchanges into private wallets, it is typically seen as whale accumulation.

Key Takeaways

• A significant amount of 800 Bitcoin, equivalent to nearly $71million, was withdrawn from Bitfinex in the last 24 hours.
• The whale in question has been systematically accumulating Bitcoin over a period of six days.

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A crypto whale pulled 800 Bitcoin worth approximately $71 million from Bitfinex over the past 24 hours, according to data tracked by OnchainLens. In the past six days, the investor acquired 1,000 BTC valued at over $89 million.

Large Bitcoin withdrawals from exchanges into private custody are often taken as a sign that whales are accumulating. These movements usually point to less immediate selling and stronger confidence in Bitcoin’s long-term growth among large investors.

On-chain data indicated earlier this week that two newly created wallets withdrew 1,600 Bitcoin, valued at approximately $144 million, from Binance.

Bitcoin was trading at approximately $89,500 at press time, up 2% in the last 24 hours, per CoinGecko.

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