Glassnode: Whale entities withdrew 100,000 BTC from exchanges in the past two weeks

On February 1st, according to data from Glassnode, whale entities (holding at least 1000 BTC) withdrew approximately 100,000 BTC from exchanges in the past two weeks, marking an almost uninterrupted trend lasting for 14 days. These transactions only involve direct transfers from exchange wallets to whale entities. The increase in whale activity began around January 16th, shortly after Bitcoin experienced a single-day drop of 7.5%, the largest since the FTX crash in November 2022. It is worth noting that the number of these whale entities grew from 1513 to 1563 during this period, almost offsetting the decline in whale entity numbers in 2022.