A massive influx of Bitcoin to exchanges has been noticed last Thursday, as the price of the cryptocurrency dropped to $29,092.
CryptoQuant analysts said that BTC may lose ground in the coming days, as Whale Alert has reported a notable increase in whale activity. By the August 16, the number of BTC found on centralized exchanges reached 2.074 million, and it continues to grow.
Transactions of at least 5,000 to 1,000 BTC were recorded on Binance, Gate.io, and Coinbase.
This suggests that whale wallets are transferring large amounts of cryptocurrency to the exchange.
