Bitcoin witnessed substantial outflows of 47,000 BTC, raising questions about supply shocks. Exchange reserves fell from 3 million BTC to 2.45 million BTC. Despite these outflows, Bitcoin’s price remained stable around 96,152 USD, suggesting minimal immediate market impact.
The current trends in whale activities could lead to a potential supply squeeze. As internal wallet reshuffling continues, the upward pressure on Bitcoin’s price may increase, highlighting the importance of monitoring whale movements closely.
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