Bitcoin whales are actively accumulating funds: recently, one of the whale’s addresses withdrew 4500 BTC from Binance.
As Bitcoin pulls back from its recent weekly highs, whale activity has increased sharply, indicating potential future bullish trends.
According to whale tracking platform Lookonchain, a major whale identified as “12QVsf” has withdrawn a significant amount of Bitcoin from major exchanges, likely accumulating it in anticipation of higher prices in the future.
Withdrawal from Binance
Lookonchain reported that the whale “12QVsf” withdrew a total of 4,500 BTC, worth about $302 million, from Binance in the last 22 hours. The withdrawals were made at an average entry price of $67,182 per BTC, as confirmed by on-chain sleuth The Data Nerd.
The transactions included several large withdrawals such as 950 BTC, 450 BTC, and 600 BTC, as well as additional withdrawals of 500 BTC, 550 BTC, and 450 BTC. The earliest recorded withdrawal was a staggering 1,000 BTC.
Additional data from Arkham Intelligence reveals This whale “12QVsf” currently holds 4,500 BTC with an unrealized loss of around $12.12 million.
Additionally, Lookonchain has identified three wallets potentially linked to the same whale that withdrew a total of 1,400 BTC from Bitfinex. This follows a previous withdrawal of 2,510 BTC from Bitfinex on June 20.
Bitfinex Sees Large BTC Outflow
Recent withdrawals from Bitfinex were made by three different wallets, all of which showed significant activity. Wallet 1 withdrew 700 BTC today and previously withdrew 649.9 BTC a month ago.
Wallet 2 withdrew 600 BTC today and had a previous withdrawal of 999.9 BTC. Wallet 3, on the other hand, withdrew 100 BTC today after withdrawing 859.9 BTC a month earlier.
Today’s total withdrawals were $94.09 million, compared to $163.22 million on June 20.
This consistent pattern of large withdrawals suggests a deliberate accumulation strategy by these wallets, likely influenced by market conditions and future price expectations.
We look at whale activity indicators
Confirming this from a technical perspective is that TradingView’s Accumulation/Distribution (Acc/Dist) line, which measures the total flow of money into and out of Bitcoin, is showing a steady upward trend despite the price volatility.
The 21-period simple moving average of the Acc/Dist line further confirms this uptrend, indicating a sustained period of accumulation.
The MACD indicator also supports this accumulation trend, with positive histogram bars and a bullish crossover of the MACD lines indicating increasing bullish momentum. This is consistent with the observed whale activity and accumulation patterns.
