Over $1 Billion in Bitcoin Withdrawn from Kraken in One Day
A significant Bitcoin withdrawal of over $1 billion occurred from Kraken on April 11, with two large transactions of 5,994 BTC ($494.5 million) and 7,001 BTC ($577 million) moving to an anonymous wallet within an hour. This activity, identified by Whale Alert, suggests a potential accumulation strategy by a large investor or institution. Total Bitcoin withdrawals from Kraken that day exceeded $2.4 billion, indicating strong whale activity.
This move coincides with Bitcoin's resilience amid economic pressures and a broader trend of institutional investors increasing their Bitcoin holdings. Despite weak retail demand, large holders are steadily accumulating Bitcoin, hinting at a possible price breakout. These developments underscore a shift in market sentiment, with Bitcoin showing strength and attracting significant interest from major players.
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