From Investing.com: 2024-05-31 14:30:38

In the last 72 hours, $2.53 billion worth of Bitcoin (BTC) has been withdrawn from exchanges as the price dropped over 6.5%. Many of the withdrawals were from Kraken, a major U.S. exchange known for facilitating USDT and Bitcoin transactions, hinting at whale activity. The SEC advising potential spot ETF issuers is seen as a positive sign for the market, along with the potential introduction of Ethereum ETFs. Optimism is growing due to significant Bitcoin withdrawals and regulatory progress, indicating a strengthening market for cryptocurrencies.

Read more at Investing.com: Colossal $2.53 Billion Bitcoin Withdrawal Stuns Major Exchanges By U.Today