40,000 BTC leaves exchanges, potential buying opportunity as Bitcoin price dips

From Investing.com

August 30, 2024 2:30:21 pm:

In the last 48 hours, 40,000 BTC has exited exchanges, signaling a potential buying opportunity for major market players amidst Bitcoin’s price dip. BTC currently stands at $59,478, down 2.24% weekly.

Notable analysts highlight the 40,000 BTC outflow from exchanges, indicating a shift to cold storage or accumulation. Wallets holding 10-10,000 BTC have collectively accumulated 133,300 more coins.

Bitcoin reserves on exchanges have hit yearly lows as investors opt for self-custody, potentially leading to reduced selling pressure and favoring a bullish market trend.

Read more at Investing.com: Here’s What’s Happening By U.Today