A crypto analyst is reporting a huge amount of Bitcoin (BTC) has left exchanges recently.
Bitcoin Exodus
Analyst Ali Martinez says nearly $4 billion worth of Bitcoin was withdrawn from exchanges during the second week of December. This is based on data from CryptoQuant, showing a significant drop in the total amount of BTC held on exchanges. Martinez noted that over 40,000 BTC were withdrawn, totaling over $3.92 billion.
Miners Also Selling
However, the story isn’t just about investors pulling out. Martinez also points out that Bitcoin miners sold a massive amount of BTC—over 140,000 BTC, worth about $13.72 billion—in the first half of December.
Bitcoin Price Remains High Despite Selling
Despite all this selling pressure from both investors and miners, Bitcoin’s price is currently at a new all-time high, trading above $105,000, up over 5% for the week.
Ethereum Showing Strength
Meanwhile, the Ethereum (ETH) network is showing positive signs according to Martinez. He highlights three key on-chain metrics:
- Active addresses are up 4.24%
- New addresses are up 2.65%
- Zero-balance addresses are down 4.06%
These trends suggest growing activity and momentum for Ethereum. ETH is currently trading just above $4,000.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>
