Dec 17, 03:33 AM

Bitcoin Surges to $106,569 Amid $2.8B Whale Transfers, $120M Purchases, and $40.81M Withdrawn from Binance

Bitcoin's price surged to $106,569 following significant whale activity, with $2.8 billion in transfers contributing to the rally. The price later stabilized around $104,000. This surge was influenced by expectations of a Federal Reserve rate cut. Additionally, three whales purchased a total of 1,153 BTC, valued at approximately $120 million, after a price pullback. Recent withdrawals from exchanges included significant amounts of various cryptocurrencies, with a wallet associated with Cumberland withdrawing 385.8 BTC, worth about $40.81 million, from Binance. Another wallet withdrew 42 BTC, valued at $4.51 million, within five days. Whale activity also included substantial withdrawals of LINK and ENA, totaling millions in value, indicating a trend of large investors moving assets off exchanges.

#Bitcoin #Federal Reserve #Cumberland #Binance #ENA

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