One of the largest Bitcoin withdrawals occurred yesterday, mainly from large whales.
Roughly 10,000 Bitcoin were withdrawn as coins were pulled off certain exchanges, including Crypto.com, Binance, and Gate. IO.
News came out yesterday of BlackRock’s filing for a spot ETF. This is one reason we may have seen demand from large whales as Bitcoin moved above $25,000.
Transfer Volume: (Source: Glassnode)