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According to data from Lookonchain, the whale has withdrawn 1,700 BTC worth $161.35 million from Binance today. This is an indication that massive Bitcoin accumulation continues. Crypto whales accumulate $133 million in Bitcoin amid US election volatility, signaling long-term confidence. Whale withdrawals from Binance hint at an increase in A mysterious and unidentified whale withdrew $120 million in Bitcoin from the leading cryptocurrency exchange Gate.io. The recent whale withdrawal in BTC is the second Hace 3 días Bitcoin retraced back to $108,900, 0.6% down in the last 24 hours, after a crypto whale withdrew over $130.68 million worth of the crypto from Binance. According to Coinglass A large entity is reportedly accumulating more Bitcoin from the world’s top crypto exchange Binance, according to blockchain tracking firm Lookonchain. Lookonchain Amid a market downturn with Bitcoin (CRYPTO:BTC) falling below $59,000, a significant crypto whale has seized the opportunity to bo According to BlockBeats On-chain Detection, a significant withdrawal of 1,350 bitcoins, valued at approximately $141.91 million, was made from a centralized The onchain data examined shows that this whale, who has approximately $1 billion worth of BTC, withdrew approximately $200 million worth of Bitcoin via the Someone held 2,000 Bitcoin from a price of $0.06 to nearly $90,000 before moving them to Coinbase late Thursday. When people talk of Bitcoin being a store of value

Bitcoin Whale Withdraws $120 Million in BTC: Accumulation Continues?

A mysterious and unidentified whale withdrew $120 million in Bitcoin from the leading cryptocurrency exchange Gate.io, sparking speculation about the motives behind this massive transaction and its potential impact on the market. But this isn't an isolated incident; large Bitcoin withdrawals from exchanges are becoming increasingly common.

Whales Accumulating Bitcoin Amid Market Volatility

The recent whale withdrawal in BTC is the second Hace 3 días Bitcoin retraced back to $108,900, 0.6% down in the last 24 hours, after a crypto whale withdrew over $130.68 million worth of the crypto from Binance. According to Coinglass, similar activity has been observed across other exchanges. According to data from Lookonchain, the whale has withdrawn 1,700 BTC worth $161.35 million from Binance today, further highlighting the trend of large entities accumulating Bitcoin. According to BlockBeats On-chain Detection, a significant withdrawal of 1,350 bitcoins, valued at approximately $141.91 million, was made from a centralized exchange.

What Does This Mean for Bitcoin?

This is an indication that massive Bitcoin accumulation continues. Crypto whales accumulate $133 million in Bitcoin amid US election volatility, signaling long-term confidence in the cryptocurrency's future. Whale withdrawals from Binance hint at an increase in private custody and long-term holding strategies. The onchain data examined shows that this whale, who has approximately $1 billion worth of BTC, withdrew approximately $200 million worth of Bitcoin via the exchange.

Bitcoin: A Store of Value?

These large withdrawals bolster the argument for Bitcoin as a store of value. Someone held 2,000 Bitcoin from a price of $0.06 to nearly $90,000 before moving them to Coinbase late Thursday. When people talk of Bitcoin being a store of value, they often point to its finite supply and decentralized nature as key drivers for its long-term appreciation. Amid a market downturn with Bitcoin (CRYPTO:BTC) falling below $59,000, a significant crypto whale has seized the opportunity to boost their holdings.

Lookonchain's Insights

A large entity is reportedly accumulating more Bitcoin from the world’s top crypto exchange Binance, according to blockchain tracking firm Lookonchain. Lookonchain continues to monitor these movements, providing valuable insights into whale activity and its potential influence on the Bitcoin market.

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