Bitcoin whales continue to accumulate on Binance, taking advantage of price drops.
Bitcoin whales continue to accumulate BTC, taking advantage of the recent price drops, according to data from on-chain analytics platform Lookonchain. In the last 8 hours, six new wallets have withdrawn a total of 1,110 BTC (approximately $107.7 million) from Binance.
The wallet addresses that make these large withdrawals are:
bc1pg4f9pllrjmr8d0svxm5rmzjyxuck08nka0h6wpmn98s0meyypv6sxu0pk3
bc1qzuuct2095a87p400xc3tnq7kj9u5gumsqsx3gq
bc1q4rum5wupldn6qpecmgxf4vxr39nupen32evtt0
bc1qnly3a39ktu4ewhx33h0ku0s9jsqjdvq7e4rhud
bc1q6altnrj2nsrdx3tnn8dt2mpxhunx7zfzvdh7xy
bc1q408z08gzq0fxa2t3qj0r60unq3muufhtgta73v
Recent fluctuations in Bitcoin prices have created buying opportunities for large investors. These influxes indicate that whales are evaluating market conditions and preferring to accumulate for the long term. By limiting supply, whales can have a positive impact on the price.
The intense purchases of whales are often interpreted as an increase in confidence in the crypto market. However, the strategies and wallet movements behind these large transactions will be closely monitored by market participants. Large transactions by Bitcoin whales are of critical importance to market players, as they can have potential impacts on the price.
Bitcoin, which has increased by 1% in the last 24 hours, is currently traded at $98,340.