Whale Withdraws $17M WBTC & ETH, Now Holds $153M BTC & ETH
In the past two hours, a crypto whale at address 0x4ED...bC853 withdrew 79.34 WBTC (worth $9.4M) and 1,860 ETH (worth $7.27M) from exchanges, totaling $17.08M. Prices at withdrawal: WBTC at $115,410 and ETH at $4,262. Over the last week, this address has moved $153M in BTC and ETH off exchanges, indicating continued accumulation and on-chain hodling. Such significant outflows highlight possible bullish sentiment as large holders reduce exchange balance, potentially tightening supply and driving prices higher.
Bullish
This significant WBTC and ETH withdrawal by a single whale reduces exchange liquidity, historically a bullish signal. Large holders moving assets off-platform often indicate accumulation and reduced selling pressure, potentially driving up prices. In similar events, such as early 2021, major outflows preceded price rallies. Short-term, traders may interpret this as a bullish catalyst, increasing long positions. Long-term, persistent accumulation could tighten supply, supporting higher valuations.