Record $816M in Bitcoin leaves Binance — Are whales preparing for a rally?

Binance saw its biggest Bitcoin (BTC) outflow in history on Nov. 3, according to data from CryptoQuant. A total of 58,861 BTC were withdrawn on a single day, equivalent to $816 million.

The significant spike in outflows could suggest two things. First, it might show that whales could be bracing for a rally in the near term. Second, an over-the-counter deal could have occurred, causing whales to move their funds.

Bitcoin outflows on Binance. Source: CryptoQuant.com

On-chain activity surges…


Source link

About bitcoin

Check Also

Weekend bull trap? Traders remain cautious as Bitcoin price rebounds to $18K

The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as …

Leave a Reply

Your email address will not be published. Required fields are marked *