Ali Martinez reported that 21,401 $BTC were withdrawn from exchanges by whales to cash out profits.
Record Withdrawal: On March 14, a massive $752 million worth of Bitcoin was withdrawn, the highest since May 2023.
Price Impact: The withdrawal led to a 7% crash in Bitcoin’s price on March 15, affecting the entire crypto market.
Supply Shock: Currently, only $1.81 million worth of BTC is available on exchanges, indicating a supply shock.
New Whales: Despite the price drop, 13 new whales with over 1,000 BTC each have entered the market.
This series of events shows the significant impact that whale transactions can have on the Bitcoin market, from influencing price fluctuations to affecting the available supply on exchanges.
