Massive $2.53 Billion Bitcoin Withdrawal Shocks Major Crypto Exchanges

In the last 72 hours, around 37,000 Bitcoin, worth approximately $2.53 billion, have been withdrawn from major cryptocurrency exchanges like Kraken. This large movement occurred as Bitcoin’s price dropped by over 6.5%, from $71,979 to $67,128. The withdrawals, largely facilitated by Kraken, indicate that large investors are moving their assets, possibly preparing for use in upcoming crypto ETFs. This activity aligns with the U.S. SEC’s recent actions towards spot Ethereum ETFs, marking a significant development in the cryptocurrency market. The withdrawals and regulatory progress suggest a positive outlook for the market, reflecting growing confidence in Bitcoin’s value and potential institutional interest.

The fiat system is a Ponzi scheme that demands perpetual (and therefore impossible) growth of physical flows. We are heading towards an…

Still no consensus on the “inscriptions” issue. Meanwhile, Bitcoin’s decentralization continues to diminish day by day. What’s the problem? We recently wrote…

Satoshi Nakamoto, the enigmatic creator of Bitcoin, sent his final message to developer Mike Hearn on April 23, 2011, before disappearing into the shadows. In those parting words, Nakamoto expressed his confidence in the Bitcoin community’s future and his hope for the continued development of alternative clients like BitcoinJ. Thirteen years later, his identity remains shrouded in mystery, fueling speculation and intrigue within the crypto world.