The crypto analyst said that $1 billion worth of Bitcoin was withdrawn from exchanges in the last two weeks.
In his statement on X, analyst Ali Martinez stated that investors withdrew large amounts of BTC, while emphasizing that whales accumulated Ether and XRP.
“25,000 BTC worth approximately $1 billion were withdrawn from well-known crypto exchanges in the last two weeks.”
Martinez noted that cryptocurrency whales are showing more interest in Ether. According to the shared data, investors with deep wallets accumulating Ether indicate that a potential rise may occur.
“Whales are on an Ether hoarding spree for nine consecutive days for the first time in nine months. Increasing buying pressure could be a strong signal for Ether’s price action to move higher.”
Speaking about XRP, Martinez stated that whales made purchases worth millions of dollars.
“On-chain data shows that XRP whales purchased approximately 11 million XRP last week. “This is worth approximately $6.82 million.”
At the time of writing, Ether is traded at $2,005, according to CoinMarketCap data, while XRP is traded at $0.59.
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