Bitcoin Whale Withdraws 4,600 $BTC From Bitfinix During Price Dip

A fresh crypto whale, ‘bc1qh’, recently withdrew 4,600 Bitcoins worth $291 million amid the price dip during the last eight hours. According to SpotOnChain, a leading blockchain analytics platform, the fresh whale withdrew a large sum of Bitcoin through Bitfinix.

Fresh whale “bc1qh” withdrew 4,600 $BTC ($291M) from #Bitfinex at ~$63,209 at the dip in the past 8 hours!

Recently, we also noticed 3 other whales (likely one entity) withdrawing 3,910 $BTC ($257M) from #Bitfinex since June 12, with the last accumulation only 3 days ago.

Is… https://t.co/N09fJsv6xq pic.twitter.com/j4Nm9jxHim

— Spot On Chain (@spotonchain) August 2, 2024

The news came to the scene through SpotOnChain’s official X account stating three other crypto whales have also withdrawn Bitcoins from the crypto exchange, Bitfinix during the last week. These transactions were carried out because of the price dip. Moreover, it also foresees that some instructions might be accumulating $BTC.

Fresh Whale ‘bc1qh’ Withdraws Bitcoin During Past 8 Hours

Last week has been evident of BTC’s prominent price fluctuations. Bitcoin (BTC) touched the figure of 69,791.87 and a day after also dropped to 62, 271.57. Due to such price dip, a fresh whale withdrew 4,600 Bitcoins. Durin the past 8 hours, the fresh whale ‘bc1qh’ withdrew BTCs in two transactions, both transactions collectively worth of $291 million.

Why Crypto Whales are Withdrawing $BTC from Bitfinix?

As per reports, collectively three whales have withdrawn Bitcoins (BTC) from Bitfinix. These withdrawals were carried out due the price dip or might be some institutions are accumulating $BTC. Before bc1qh’s withdrawal, two other crypto whales withdrew 1300 $BTC worth $87.35 million.

Both transactions were carried out during the price drop and were withdrew from a prominent crypto exchange, Bitfinix. It is the word of mouth that some institutions might be accumulating $BTC or may be whales are preparing themselves for next crypto bull run.

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