While the Amount of Bitcoin in Stock Exchanges Dropped to Historical Lows, Whale Purchases Exceeded Billion Dollars!

Cryptocurrency whales, taking advantage of Bitcoin declines, made astonishing amounts of purchases.

Cryptocurrency whales once again took advantage of the decline in Bitcoin. Since the crashes on June 11, whale purchases have totaled 20,600 BTC, worth $1.38 billion.

These high purchases were recorded as the largest purchases for Bitcoin whales since February 28. In parallel, it was among the notable data that the Bitcoin supply on the stock exchanges decreased to its lowest level since December 2021.

The amount of Bitcoin in exchanges is at the lowest level in the last 3 years

According to on-chain intelligence platform Santiment, Bitcoin's supply on cryptocurrency exchanges has fallen to 942,000, its lowest level since December 22, 2021.

The decrease in the amount of Bitcoin in exchanges has generally been read as positive data so far. Billions of dollars of purchases of spot Bitcoin ETFs were also effective in this decrease.

In his recent post, analyst Ali Martinez stated that Ethereum whales purchased $840 million.