BTC Whale With Links To A Well-Known Exchange May Have Triggered A Drop In Bitcoin Market

Cryptocurrency whale activity is usually associated with big price movements, particularly when whale transfers are taking place between an external wallet and an exchange. There are many whale alert tools which market participants monitor to gain insights into what’s happening in the market.

A whale that transfers large amounts of BTC to an exchange usually does so to sell their holdings. Whenever a whale withdraws bitcoin from an exchange, the market interprets the transfer as an intention to hold it as a store of value.

Source: Bitcoin Magazine

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