Home / Business / $ 1,000,000,000 in Single-Day Bitcoin Withdrawals: On-Chain Analyst Will Clemente

$ 1,000,000,000 in Single-Day Bitcoin Withdrawals: On-Chain Analyst Will Clemente



Crypto analyst Will Clemente revealed that big money investors are still hoarding large amounts of Bitcoin as the top cryptocurrencies trade below $ 60,000.

In a new tweet, analysts said he had seen a mysterious agency facilitating the largest Bitcoin withdrawal seen on the network within three weeks.

“Whoa… Glassnode reported a massive withdrawal from the previous 11,504 BTC ($ 667 million) total exchange… who could this time be?”

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Source: Will Clemente / Glassnode / Twitter

In a separate transaction, Clemente added that he had seen a move of $ 331

.80 million worth of 6,056 BTC in production in a matter of minutes.

In summary, online analysts have pointed out that 18,084 BTC, valued at $ 1.04 billion, have been moved from the exchange in a 24-hour period, giving him the reason why. “It will be seriously announced soon.”

In addition to the massive Bitcoin withdrawal, Clemente noted that he saw an online indicator showing a bullish signal.

Prior to the massive withdrawal of BTC, analysts detected hundreds of millions of dollars in USDT (Tether) inflows, indicating investors were preparing to accumulate crypto.

“Grab another big Tether that has moved for a total of $ 405,845,835, making a serious purchase. Which institution can be this time? “

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Source: Will Clemente / Glassnode / Twitter

In addition to the massive influx of stablecoins into the exchange, Clemente noted that Bitcoin Accumulation Address Count, a metric that shows the number of addresses that had at least three transactions entered and never used BTC at the time. It has been in use for the last seven years. In the midst of parabolic growth

“Wow, another leg in the only Bitcoin accumulation address”

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Source: Will Clemente / Glassnode / Twitter

Clemente is also watching some mining activity. According to online analysts, miners keep BTC at a rate not previously seen in the growth cycle.

“These Bitcoin Miner accumulation levels are unprecedented in a bull market. Especially for the huge increase on networks in the last month. The miners are piling up. “

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Source: Will Clemente / Glassnode / Twitter

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Featured image: Shutterstock / Gonin




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