CandleFocus

$6b in Bitcoin left exchanges amid declining whale activity

Author: Content Editor
The recent rally of Bitcoin above $95,000 has led to significant accumulation among retail investors. Data shows that there has been a net outflow of $6 billion from Bitcoin exchanges over the past week, with a substantial amount occurring on November 19. Additionally, there has been a net inflow of $3.38 billion into spot BTC exchange-traded funds in the U.S. Whale activity, however, has cooled down as the price of Bitcoin reached its all-time high, with large transactions decreasing and the volume significantly dropping. Despite this, large holders have seen a shift from a net outflow to a net inflow of Bitcoin. The surge in whale accumulation could potentially increase buying pressure and the fear of missing out among market participants. Bitcoin is currently consolidating near the $98,000 mark and has seen a surge in daily trading volume. The global crypto market cap has seen a slight decline, and the fall in Bitcoin's price has triggered a market-wide decline, impacting small-cap altcoins.

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