Amid this negative price action, BTC whales are moving huge amounts of the token off exchanges.
Tokens being moved-off exchange usually signal a rise in prices, as active supply reduces.
According to Whale Alert, over $1.62 billion worth of 40.47K Bitcoins has left Coinbase’s platform to various sources in the last 24 hours.
Meanwhile, 5.6K Bitcoins were transferred from Coinbase to Gemini and Bitfinex, respectively.
Glassnode data showed that around $1.9 billion worth of Bitcoins has left the Crypto market in the last 24 hours.
In the last 24 hours, LGF has added another 124 BTC, bringing its total holdings to $1.71 billion worth of 42,530.8 Bitcoins.