Insights

Whale outflow from Huobi sees Bitcoin over $31K

exchange68September 12, 2024

0 0 1 minute read

Quick Take

Bitcoin jumps to over $31,200, up almost 3% on the day
A whale outflow from Huobi saw almost 7,500 Bitcoin leave the exchange.
Huobi now has less than 20,000 Bitcoin on the exchange; this comes after a report by Willy Woo of Huobi collateral continuing to be drained.

Balance on exchange: (Source: Glassnode)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.