Bitcoin Transfers Worth Billions Could Mean Selling Pressure Ahead

Coindesk | Feb 22, 2021 at 6:09 PM
  • A surge in bitcoin balances on major cryptocurrency exchanges preceded Monday’s sell-off, potentially a sign that this year’s doubling in prices tempted some digital-asset investors to take profits.
  • Some 40,000 BTC ($2.1 billion worth) have been transferred to exchanges since Friday on major crypto exchanges, pushing up the bitcoin reserves to levels not seen since the end of January.