menuIcon
$ 83,347.4
BTC
$ 83,347.4
1.70 %
$ 1,872.25
ETH
$ 1,872.25
-0.31 %
$ 0.7234
ADA
$ 0.7234
-0.12 %
$ 575.95
BNB
$ 575.95
4.26 %
$ 123.75
SOL
$ 123.75
1.39 %
Sujit Kumar
17 hours ago
by Sujit Kumar

Kraken, Coinbase See Massive BTC Withdrawals Amid Market Recovery

Kraken-Coinbase See Massive BTC Withdrawals

Table of contents

  1. Investor Caution Remains High
Data from Whale Alert has revealed significant Bitcoin outflows from major U.S. crypto exchanges. According to the blockchain sleuth, Kraken recently experienced a massive withdrawal of 4,777 BTC—worth roughly $394.6 million. This marked the third such high-value withdrawal from Kraken in the past day. In addition to these exits, Whale Alert spotted two other large BTC transfers. One transaction involved 1,799 BTC (approximately $149.17 million) moving between anonymous wallets, possibly as part of an OTC trade. Meanwhile, Coinbase recorded an 1,800 BTC withdrawal, valued at about $149 million.

Market Reaction and Recovery Efforts

These substantial outflows come amid a broader market downturn that has shaken investor confidence. Despite the pressure, Bitcoin is striving to recover from its recent crash. After dipping to around $77,600 on March 11, Bitcoin surged 7.3% to hit $83,270 before a slight pullback. At press time, the cryptocurrency is trading at approximately $82,850 on Bitstamp.

Investor Caution Remains High

The current flurry of high-value withdrawals underscores persistent caution among large holders, even as Bitcoin shows signs of recovery. While the overall market remains volatile, these moves highlight the ongoing struggle between selling pressure and the potential for a rebound. With traders closely monitoring these developments, any shift in whale activity could signal further changes in market dynamics.

As the crypto community keeps a wary eye on institutional flows, the interplay between massive withdrawals and recovery attempts will be critical to Bitcoin’s near-term outlook.

Follow us on: News
Coinbase Kraken BTC withdrawals
Kraken, Coinbase See Massive BTC Withdrawals Amid Market Recovery
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Top Picks