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Bitcoin Whales Steadily Pulling Funds From Binance – What’s Fueling The Action?
- Bitcoin's price remains above $109,000 despite bearish pressure and recent rebound over $110,000.
- BTC whales are withdrawing funds from Binance, indicating renewed conviction in the asset.
- Key investors on Binance are steadily pulling out their BTC holdings, challenging the notion of a sell-off during price spikes.
- The trend of steady withdrawals by BTC whales on Binance is gaining momentum amidst a maturing market landscape.
- BTC whales historically sell coins near all-time highs for profits, but current outflows challenge this trend.
- Darkfost highlights significant inflows and outflows on Binance as BTC hits new highs.
- BTC inflows into Binance have decreased to around $3 billion, indicating whales anticipate further profit opportunities.
- Darkfost warns that the bullish sentiment of Binance whales should not be ignored, as their actions can have a significant market impact.
- Over 550,000 BTC, valued at about $59.67 billion, have been withdrawn from cryptocurrency exchanges' reserves in the past year.
- Market expert Kyle Doops suggests that these withdrawals show conviction rather than panic, as limited supply may drive price increases.
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