Bitcoin Whale Transactions Surge As $1,046,164,730 In BTC Leaves Crypto Exchanges In Just 24 Hours

Bitcoin (BTC) whales are moving as more than $1 billion worth of BTC has flowed out of crypto exchanges in the past 24 hours.

According to data from crypto intelligence firm Santiment, deep-pocketed BTC investors have been manufacturing more than 4,000 transactions per day this week, each exceeding at least $1 million, after hitting a low of around 2,300 transactions per day in early April.

“Bitcoin sees a steady and continued supply of around 4,000 whale transactions exceeding $1 million Monday through Friday, with slight downturns over the weekend.”

Source: Santiment/Twitter

Santiment says big jumps in activity could mean the top digital asset is ready to recoup the losses it posted in April after hitting highs it hadn’t seen since late 2021 a few weeks earlier. .

“Significant increases [in transactions] are what we are looking for to foreshadow a price rebound from the April retracement.

The business information company also find that a staggering 25,878 BTC worth just under $1.05 billion left crypto exchanges in the past day, the biggest difference between inflows and outflows seen over the past five weeks.

Santiment also notes that large amounts of exits could mean a price rally is on the horizon for the leading crypto asset by market capitalization.

“Historically, large amounts of BTC exiting exchanges drive price increases within days for the trend to continue.”

Source: Santiment/Twitter

Bitcoin is trading hands at $40,325 at the time of writing, a 16% drop from its 30-day high of $47,938.

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Bitcoin Whale Transactions Surge As $1,046,164,730 In BTC Leaves Crypto Exchanges In Just 24 Hours

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