Bitcoin Whales Move $99.4M Off Exchanges: What It Signals

BitcoinWorld Bitcoin Whales Move $99.4M Off Exchanges: What It Signals Four newly created anonymous wallet addresses have collectively withdrawn 1,540 Bitcoin — worth approximately $99.4 million — from crypto custodians Galaxy Digital and BitGo within the past three hours, according to on-chain analytics platform Lookonchain.

Large exchange outflows are often interpreted by market analysts as a signal that investors intend to hold their assets long-term, rather than sell them on the open market.

When Bitcoin is moved from exchange wallets to private custody, it reduces the liquid supply available for trading, which can have a supportive effect on price over time.

Understanding the On-Chain Data Lookonchain, a widely followed blockchain tracking service, reported the transaction details on social media.