{"id":137356,"date":"2023-09-02T05:58:16","date_gmt":"2023-09-02T00:28:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=137356"},"modified":"2023-09-02T05:58:16","modified_gmt":"2023-09-02T00:28:16","slug":"gemini-sees-near-400-million-bitcoin-withdrawal-as-whale-activity-stirs-market-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gemini-sees-near-400-million-bitcoin-withdrawal-as-whale-activity-stirs-market-crypto-news\/","title":{"rendered":"Gemini sees near $400 million Bitcoin withdrawal as \u2018whale\u2019 activity stirs market &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<h2>Quick Take<\/h2>\n<p><em>CryptoSlate<\/em> data reveals a significant development in Bitcoin market dynamics, with the third biggest Bitcoin withdrawal this year outpacing last week\u2019s substantial outflow.<\/p>\n<p>The epicenter of this activity was the Gemini exchange, witnessing a near $400 million Bitcoin exodus, chiefly led by large-scale investors or \u2018whales.\u2019 This withdrawal further solidifies a decreasing trend in Bitcoin\u2019s exchange presence, with a year-low of 2.77 million Bitcoin currently observed.<\/p>\n<p>Echoing this trend, Gemini itself has seen a considerable reduction in its Bitcoin reserves. From a robust reserve of 314,000 Bitcoin in Nov. 2021, Gemini is now left with 105,000 Bitcoin.<\/p>\n<p>This pattern could suggest a potential shift in investor behavior, possibly pointing to a trend of long-term holding or the search for alternative custodial services. However, without conclusive correlation or causation, these interpretations remain speculative.<\/p>\n<figure id=\"attachment_350025\" aria-describedby=\"caption-attachment-350025\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-350025\" class=\"wp-caption-text\">Outflow: (Source: Glassnode)<\/figcaption><\/figure>\n<figure id=\"attachment_350026\" aria-describedby=\"caption-attachment-350026\" style=\"width: 1800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-350026 size-full\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/ball.png\" alt=\"Exchange Balance: (Source: Glassnode)\" width=\"1800\" height=\"1013\" \/><figcaption id=\"caption-attachment-350026\" class=\"wp-caption-text\">Exchange Balance: (Source: Glassnode)<\/figcaption><\/figure>\n<p>The post <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\/insights\/gemini-sees-near-400-million-bitcoin-withdrawal-as-whale-activity-stirs-market\/\">Gemini sees near $400 million Bitcoin withdrawal as \u2018whale\u2019 activity stirs market<\/a> appeared first on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoslate.com\">CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick Take CryptoSlate data reveals a significant development in Bitcoin market dynamics, with the third biggest Bitcoin withdrawal this year outpacing last week\u2019s substantial outflow. The epicenter of this activity was the Gemini exchange, witnessing a near $400 million Bitcoin exodus, chiefly led by large-scale investors or \u2018whales.\u2019 This withdrawal further solidifies a decreasing trend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":137357,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-137356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137356"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137356\/revisions"}],"predecessor-version":[{"id":137358,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137356\/revisions\/137358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/137357"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}