Bitcoin Whales Move BTC Off Exchanges, How Will It Affect Prices?

Bitcoin’s (BTC) price has been under tremendous pressure this week. BTC’s price even slid below the $40,000 price level on Thursday morning.
Amid this negative price action, BTC whales are moving huge amounts of the token off exchanges. As per Whale Alert, over $1.8 billion worth of 45,000 BTC tokens were transferred from the crypto exchanges.
Tokens being moved-off exchange usually signal a rise in prices, as active supply reduces. This could indicate that token, which appears to have found a bottom at $40,000, could be primed for a jump.
Over 40K BTC moved from Coinbase
The Bitcoin prices have seen a decline of over 2.5% in the past 24 hours. With the decline in the price, BTC’s Whale transactions have registered a steep increase. According to Whale Alert, over $1.62 billion worth of 40.47K Bitcoins has left Coinbase’s platform to various sources in the last 24 hours. Out of this, around 32,800 BTCs were transferred to some unknown wallet addresses.
Meanwhile, 5.6K Bitcoins (approx $200 million) and 2K Bitcoins (approx $80 million) were transferred from Coinbase to Gemini and Bitfinex, respectively. This doesn’t end here, as Gemini and Xapi also moved 5,001 and 940 Bitcoins, respectively.
This is not the first time that whales have moved such a huge amount of Bitcoin tokens in a market crash. April is also following the same trend as March did. Around $1.2 billion worth of BTC tokens left Coinbase just in a week of March.
$1.9 bln worth of BTC left crypto market
Glassnode data showed that around $1.9 billion worth of Bitcoins has left the Crypto market in the last 24 hours. On the other hand, $972 million worth of BTCs were purchased in the same. As per the data, Bitcoin’s Netflow stands at a negative $926 million.
Bitcoin prices have been on a decline by over 8% in the last 7 days. Terra community The Luna Foundation Guard (LFG) also appears to be buying the dip. In the last 24 hours, LGF has added another 124 BTC, bringing its total holdings to $1.71 billion worth of 42,530.8 Bitcoins.
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Just In: DeFi Dev Corp Launches Japan’s First Solana Treasury Company, SOL Price Reacts
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?