Bitcoin (BTC-USD) Targets $84,000 As Whale Withdrawals And Institutional Wallet Activity Signal Recovery
BTC when published $80,387Now $80,617 ▲ +0.29% since it was published
Bitcoin (BTC-USD) was trading down 1.25% at $80,841.90 as of early Saturday, holding above a key demand zone near $80,000 amid continued selling pressure across cryptocurrency markets. On-chain data revealed that 40 newly created wallets withdrew approximately 9,458 BTC, worth $771.5 million, from trading firm Wintermute since October 1, according to Lookonchain. The transfers point to significant activity among large holders, though withdrawals alone do not confirm whether the Bitcoin was purchased outright or moved into longer-term custody. Fidelity’s Bitcoin ETF wallet reportedly received 282.63 BTC, valued at $23.08 million, from Binance, while BlackRock (NYSE: BLK)-linked wallets received an additional 384.77 BTC worth approximately $31.4 million. Those transactions, flagged by Onchain Lens, indicate continued institutional wallet activity but do not necessarily represent fresh ETF inflows into either fund.
First reported by Foreign Policy Journal. This page is a short excerpt; the full text is theirs.
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