Cryptocurrency whales withdrew large amounts of Bitcoin (BTC) from exchanges, especially in November, clearly demonstrating the increasing demand.
Bitcoin price has been significant in recent months rises While exhibiting, the whales continued to fill their individual wallets. According to Glassnode’s data from 17 November from cryptocurrency exchanges since $1.4 billion worth about 37,000 Bitcoins withdrew.
Some of these shooting processes USA And Binance It took place during the tension-filled days between Whales probably thought that the possibility of a serious sanction on Binance could cause a liquidity problem and transferred their Bitcoin assets to their individual wallets. precaution took.
On the other hand, the decrease in supply in the exchanges and the increasing demand of users, especially for Bitcoin, also positively affected the price. According to CoinGecko data, in November Bitcoin up 8.8% exhibited. Glassnode analysts say that the increasing demand from whales may have a positive impact on the Bitcoin price in the coming days. Breaking 40 thousand dollars He thought it might help.
In parallel with the decrease in Bitcoin supply in exchanges Total market value of the cryptocurrency market in November around 10% increasing $1.41 trillion reached the level. This level is the last in May 2022 had been seen.
Head of brokerage firm at TradeStation anthony Rousseau In an interview with CoinDesk, he said: US Federal Reserve (FED) He stated that the fact that it has exited the interest rate increase cycle is a positive signal for cryptocurrencies in general. Rousseau like cryptocurrencies risk assets He made the following statements about his future:
The Fed has paused its rate hike cycle, and central banks around the world are following suit. It is reasonable to believe that we have reached the peaks of this tightening cycle. Lower interest rates and the end of tightening are positive signals for risk assets to receive a sustained bid. In this way, crypto money markets will be able to see the future more clearly.