Exodus Of 30,000 BTC To Cold Wallets Spells Good News For Bitcoin Price

A massive 30,000 BTC has been moved into cold storage, indicating a bullish outlook for Bitcoin as whales and institutional investors anticipate a price increase and opt for self-custody.

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Relevant topic timeline:

8/25/2023

Mysterious Bitcoin Whale Abruptly Moves Over $134,000,000 in BTC – Here’s Where the Crypto’s Headed - The Daily Hodl

A Bitcoin whale has moved $134 million worth of BTC out of a centralized exchange, coinciding with a decrease in the amount of BTC sitting in exchanges and an increase in whale transactions.

8/27/2023

Bitcoin: Why you need to be prepared for wild price swings

BTC's illiquid supply now makes up 80% of the total BTC tokens in circulation, indicating a shift towards long-term investment, while low exchange volumes could lead to volatile price swings; Bitcoin whales have begun adding to their stockpiles, signaling confidence in an upcoming bullish trend.

9/4/2023

Here’s How Bitcoin (BTC) Could Make a Move to the Upside, According to Analyst Jason Pizzino - The Daily Hodl

Despite the current market conditions, a crypto strategist believes that Bitcoin (BTC) could experience a significant upward movement, potentially forming a bullish higher-low setup after a possible drop to around $23,600.

9/12/2023

Bitcoin Bounces Back Above $25,000 as Short Sellers Unwind Bets

Bitcoin (BTC) experienced a short squeeze, leading to a rally in prices and a decline in open interest in futures and perpetual swaps trading. However, the lack of immediate bullish catalysts may cap the price recovery.