Author: Content Editor
The data from IntoTheBlock showed that there was a significant outflow of Bitcoin from exchanges, with $4.5 billion being withdrawn in the last seven days. This indicated that whales, or large holders, were actively accumulating Bitcoin and reducing selling pressure. The data also suggested a bullish environment for future price increases, as Bitcoin approached the $100,000 mark. The withdrawal of BTC from exchanges implied that investors were holding onto their BTC for the long term in anticipation of a potential rise in price. The data also showed increased confidence and participation by BTC holders at all levels. Additionally, Christopher Wood, global head of equity strategy at Jefferies, announced his intention to sell his Bitcoin holding once the price reaches $150,000, emphasizing that Bitcoin should be seen as a digital alternative to traditional assets rather than a replacement for gold.