About $1,000,000,000 in Bitcoin Yanked From Exchanges in Two Weeks As Whales Accumulate Ethereum and XRP: Trader
A carefully adopted crypto analyst says that near $1 billion value of Bitcoin (BTC) has been pulled from crypto exchanges in latest weeks as deep-pocketed buyers concurrently stockpile Ethereum (ETH) and XRP.
Crypto analyst Ali Martinez says on the social media platform X that market contributors have been yanking massive quantities of BTC from crypto exchanges in the final two weeks.
“Around 25,000 BTC have been withdrawn from known crypto exchange wallets in the last two weeks, worth nearly $1 billion!”
Bitcoin is buying and selling for $37,215 at time of writing, a 1.5% lower over the past day.
Martinez goes on to note that crypto whales have given extra consideration to Ethereum. Based on the analyst, for the primary time in 9 months, high-net-worth merchants have been accumulating ETH, signaling a potential upcoming rally.
“For the first time in nine months, whales have been on a steady ETH accumulation spree for nine consecutive days. The increasing buying pressure could be a strong signal for ETH bullish price action.”
Turning this consideration towards XRP, Martinez says that crypto whales have bought thousands and thousands of {dollars} value of the altcoin throughout the previous week.
“On-chain data shows that XRP whales have purchased around 11 million XRP over the past week, worth roughly $6.82 million!”
Ethereum is buying and selling for $2,047 at time of writing whereas XRP is value $0.612.
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