On-chain data has highlighted an interesting development in the Bitcoin market. In the last 48 hours, nearly 40,000 Bitcoin has left cryptocurrency exchanges. The timing of this large outflow aligns with a period of weak Bitcoin price activity, suggesting that major players in the market may be viewing current price levels as a buying opportunity. At the time of writing, Bitcoin is down 1.11% over the last 24 hours to $59,478, having hit a high of $61,194 in yesterday’s trading session. Bitcoin remains down 2.24% on a weekly basis. According to crypto analyst Ali, it appears that some major players have taken advantage of the recent Bitcoin price decline. Ali noted that on-chain data from Santiment reveals a 40,000 BTC drop in the exchange's supply over the past 48 hours, or $BTC

equivalent to about $2.4 billion.