I just saw some on-chain data.
An address withdrew several thousand $BTC from an exchange.
My first thought was: another whale making a move.
But honestly, this one transaction alone doesn’t tell us much.
A withdrawal could mean someone’s holding and not selling, or they could simply be moving their coins to another wallet.
What I care more about is what happens next.
If the amount of $BTC held on exchanges keeps falling over the next few days, then that’s getting interesting.
It would mean there are genuinely fewer sellers.
At this price, I’m not too keen on chasing it.
Let’s first see whether this trend continues.
One or two transfers don’t tell us much.
It’s worth paying closer attention when withdrawals keep happening.
An address withdrew several thousand $BTC from an exchange.
My first thought was: another whale making a move.
But honestly, this one transaction alone doesn’t tell us much.
A withdrawal could mean someone’s holding and not selling, or they could simply be moving their coins to another wallet.
What I care more about is what happens next.
If the amount of $BTC held on exchanges keeps falling over the next few days, then that’s getting interesting.
It would mean there are genuinely fewer sellers.
At this price, I’m not too keen on chasing it.
Let’s first see whether this trend continues.
One or two transfers don’t tell us much.
It’s worth paying closer attention when withdrawals keep happening.