Degen

According to a report by analytics platform CryptoQuant, the cryptocurrency market has seen a significant increase in Bitcoin inflows into whale wallets, indicating that this group of investors has started to accumulate the digital asset again amid the recent price decline.

Analysts see this as a sign of buying from OTC sellers after off-exchange transactions. More than 22,770 Bitcoins have entered whale wallets, which could be a bullish sign.

The increase in OTC trading also indicates a significant increase in inflows into prime brokerage service Coinbase, which is the preferred channel for buying Bitcoin for US institutions.

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