Major

bullish

Wednesday

Bitcoin

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The Bitcoin outflows from centralized exchanges and the rising whale accumulation helped it surpass the $67,000 mark again. 
According to data provided by IntoTheBlock, the Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) exchange net flows witnessed two days of inflows on Oct. 20 and 21, bringing the price down from the local high of $69,400.&nbsp; 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1200" height="800" src="https://crypto.news/app/uploads/2024/10/ITB_btc_netflows_undefined_2024-10-24T06_34_11.196Z.png" alt="$581m in Bitcoin left CEXs in 7 days, whales restart accumulation - 12" class="wp-image-14305648">
 <figcaption class="wp-element-caption">
 BTC CEX net flows – Oct. 24 | Source: <a href="https://app.intotheblock.com/coin/BTC/quick-view" target="_blank" rel="nofollow">IntoTheBlock</a>
 </figcaption>
</figure> 
On Oct. 22 and 23, this movement shifted back to outflows. Per ITB data, BTC recorded a net outflow of $581 million over the past week. The increased outflows show the accumulation phase. 
 You might also like: <a rel="" href="https://crypto.news/major-bitcoin-miners-back-pro-crypto-pac-with-2m-campaign/"> Major Bitcoin miners back pro-crypto PAC with $2m Campaign </a> 
<h2 class="wp-block-heading" id="whales-join-the-accumulation">Whales join the accumulation</h2> 
Whales also started selling Bitcoin on Oct. 21 as <a href="https://crypto.news/94-of-bitcoin-holders-are-in-profit-will-they-sell/" target="_blank">94% of the holders</a> were in profit. Data shows that the selloff among large holders is also fading away.&nbsp; 
Bitcoin whale addresses recorded a net inflow of 165.5 BTC, worth $11.15 million, yesterday.&nbsp; 
Notably, the total amount of Bitcoin whale transactions, consisting of at least $100,000 worth of BTC, surpassed the $100 billion mark over the past week.&nbsp; 
High whale activity and accumulation could trigger a market-wide <a href="https://crypto.news/meme-coin-traders-fomo-panic-buying/" target="_blank">FOMO</a>. 
<a href="https://crypto.news/saylor-voices-bitcoin-self-custody-support-amid-backlash/" target="_blank">Bitcoin</a> is up 0.3% in the past 24 hours and is trading at $67,350 at the time of writing. The asset’s market cap is sitting at $1.33 trillion with an 18% rise in its daily trading volume, reaching $35 billion. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/10/BTCUSDT_2024-10-24_11-06-42.png" alt="$581m in Bitcoin left CEXs in 7 days, whales restart accumulation - 13" class="wp-image-14305649">
 <figcaption class="wp-element-caption">
 BTC price – Oct. 24 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
Another bullish catalyst on Wednesday was the increased spot BTC exchange-traded funds’ inflows in the U.S. According to a crypto.news report, these investment products saw a net inflow of $192.4 million on Oct. 23, led by BlackRock’s iShares Bitcoin Trust ETF. 
 Read more: <a rel="" href="https://crypto.news/bitcoin-etf-inflows-resume-with-192-3m-as-btc-rebounds-from-65k/"> Bitcoin ETF inflows resume with $192.3m as BTC rebounds from $65K&nbsp; </a>

$581m in Bitcoin left CEXs in 7 days, whales restart accumulation

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