Whale Withdraws 42,682 ETH from OKX in Bullish Accumulation
On-chain data shows a major whale has removed a total of 42,682 ETH (≈$188 million at $4,403) from OKX over five days, including recent withdrawals of 12,410 ETH in four hours and 5,100 ETH marking its fourth large transfer since August 29. The same addresses also hold 80.8 million USDT previously withdrawn in July. These outflows reduce exchange ETH supply and potentially lower sell pressure. Cumulatively, this whale has accumulated 30,246 ETH (≈$134 million) in the past 24 hours, underscoring a long-term bullish stance. Traders should monitor OKX ETH balances and ongoing withdrawal patterns as key indicators of market sentiment and possible upward price momentum.
Bullish
Repeated large ETH withdrawals from OKX by a single whale reduce the circulating supply on the exchange, lowering immediate sell pressure and signaling a strong bullish conviction. In the short term, these outflows often precede upward price moves as on-exchange liquidity tightens and traders interpret reduced reserves as a demand signal. Over the longer term, sustained accumulation by large holders can underpin market confidence and act as a foundation for further gains, especially if withdrawal trends persist. Monitoring OKX’s ETH balances will help traders anticipate potential breakouts or trend continuations driven by supply scarcity.