Here’s the latest on Bitcoin! 🚀 Over the past week, there has been a massive $4.5 billion Bitcoin outflow from exchanges, sending the BTC price soaring close to $100K. 📈
Data from IntoTheBlock shows that whales have begun accumulating Bitcoin, with over 12% of this outflow coming from large holders. 🐋 This massive outflow suggests that many investors are planning to hold BTC for the long term, expecting the price to continue to rise.
The peak of the outflow occurred on November 19, when BTC broke through $93K and set a new ATH. 🎉 Whales and large investors accounted for nearly 12% of the total outflows, while retailers (who own less than 0.1% of the supply) accounted for 88%. This shows growing confidence among all types of BTC holders.
Currently, all BTC holders, including small ones, are “in the money” at the current price of $99.27K. 💰 This reduced liquidity could be a bullish sign as there is a potential BTC supply shortage.
Jefferies’ Chris Wood also gave advice to HODLers, stating that he will sell his BTC once the price hits $150K. 💸 He believes that Bitcoin is not a substitute for gold, but a digital alternative to traditional assets.
So, with all these withdrawals and growing optimism, Bitcoin looks poised to continue its bullish momentum! 🌟$BTC
