Data shows Bitcoin whales took out 15.7k BTC from exchanges during recent weeks, the highest amount since June of this year.
Bitcoin Whale Netflows Registered Negative Values Recently
As per the latest weekly report from Glassnode, the BTC whale withdrawal volumes have been rising in the last few weeks.
The relevant indicator here is the “whale netflow,” which measures the net amount of Bitcoin that whales are withdrawing or depositing to centralized exchanges right now.
The metric’s value is calculated by simply subtracting the withdrawal volume of this cohort, from the deposit volume of the same.
When the netflow has a positive value, it means BTC whales are transferring a net number of coins to exchanges currently.
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