#Bitcoin Whale Transfers Surge: Altseason on the Horizon?



Last week saw $BTC hit a record high of $123,091 on July 14th. However, a subsequent price dip coincided with a significant altcoin market rally, sparking speculation about an impending altseason. This intriguing development has been highlighted by on-chain data.

Whale Activity Points to Potential Shift

Blockchain analytics firm Glassnode reported a substantial increase in Bitcoin whale transfers to exchanges. The 7-day simple moving average (SMA) of BTC transferred from whale wallets is nearing 12,000 BTC, a level reminiscent of early November 2024, which preceded a major bull run. This influx of BTC to exchanges often signals profit-taking or capital rotation.
BTC-1.19%
RLY-5.82%
EARLY15.3%
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