The whale in question has been systematically accumulating Bitcoin over a period of six days.
A crypto whale pulled 800 Bitcoin worth approximately $71 million from Bitfinex over the past 24 hours, according to data tracked by OnchainLens. In the past six days, the investor acquired 1,000 BTC valued at over $89 million.
Large Bitcoin withdrawals from exchanges into private custody are often taken as a sign that whales are accumulating. These movements usually point to less immediate selling and stronger confidence in Bitcoin’s long-term growth among large investors.
On-chain data indicated earlier this week that two newly created wallets withdrew 1,600 Bitcoin, valued at approximately $144 million, from Binance.
Bitcoin was trading at approximately $89,500 at press time, up 2% in the last 24 hours, per CoinGecko.
