Sharp rise in Bitcoin whale deposits amid ETF outflows

Share This Post

Glassnode defines Bitcoin whales as the number of unique entities holding at least 1k coins. Year to date, these whales have primarily been making withdrawals, influenced by Bitcoin US ETFs. Notably, in the past ten trading days, there have been significant outflows from US ETFs, but a new trend has emerged: whale deposits onto exchanges.

Whales Deposits vs Withdrawals: (Source: Glassnode)
Whales Deposits vs Withdrawals: (Source: Glassnode)

According to Glassnode data, around 13,000 BTC were deposited starting May 21, with additional large deposits on May 24 and 25. These deposits coincide with Bitcoin’s price rally, indicating that whales are selling into price strength. This is a crucial trend to monitor.

Bitcoin: Transfer Volume from Whale Entities to exchanges: (Source: Glassnode)
Bitcoin: Transfer Volume from Whale Entities to exchanges: (Source: Glassnode)

Despite these activities, the number of unique entities holding at least 1,000 BTC has continued to rise, reaching 1,668.

Number of Whales: (Source: Glassnode)
Number of Whales: (Source: Glassnode)

It is essential to note that wallets with balances over 1,000 BTC often include ETFs such as Grayscale, which spreads its Bitcoin across multiple addresses. ETFs with assets under management exceeding $68 million now fall into the whale category.

The post Sharp rise in Bitcoin whale deposits amid ETF outflows appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1?

The post Dogecoin Price Prediction 2025, 2026 – 2030: Will DOGE Price Hit $1 appeared first on Coinpedia Fintech News Story Highlights The price of Dogecoin today is Dogecoin price may reach a

Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2?

The post Cardano Price Prediction 2025, 2026 – 2030: Will ADA Price Hit $2 appeared first on Coinpedia Fintech News Story Highlights The live price of the Cardano token is ADA coin price could

Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next?

The post Solana Price Prediction 2025, 2026 – 2030: SOL Price Targets $500 Next appeared first on Coinpedia Fintech News Story Highlights Solana Price Today is Solana price could reach a

Crypto.com Expands UAE Footprint With License to Offer Derivatives

Cryptocom has received a limited license from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivative products such as futures and perpetual swaps, marking a major step forward

Binance Coin Price Prediction 2025, 2026 – 2030: Will BNB Hit $1000?

The post Binance Coin Price Prediction 2025, 2026 – 2030: Will BNB Hit $1000 appeared first on Coinpedia Fintech News Story Highlights Binance Coin Price Today is The BNB price prediction

Vermont withdraws action against Coinbase, awaits SEC’s regulatory clarity

Vermont has officially withdrawn its legal action against Coinbase, which accused the crypto exchange of offering unregistered securities through its staking program In a court filing on March 13,