**Crypto** analyst Ali Martinez says whales are accumulating **Ethereum (ETH)** and **XRP** and withdrawing large amounts of **Bitcoin BTC** from crypto exchanges, according to charts he shared on social media platform X, based on Glassnode data.

![](https://images.hive.blog/DQmWSzrK17bJEg5VbSkbZqg74k5JvQFTYdqyy3zt8ZWnrSm/bitcoin.jpg)
[Source](https://twitter.com/ali_charts/status/1728434161248243985/photo/1)

According to Glassnode data, approximately 25,000 BTC (approximately $935 million) appears to have been withdrawn from crypto exchange wallets in the last two weeks. At the time of writing, Bitcoin is trading at $37,444, up 1.7% in 24 hours.

I think it is remarkable that whales withdraw such a large amount of BTC from crypto exchanges. 

Additionally, whales are showing more interest in Ethereum and XRP as they bought altcoins worth millions of dollars in the past week.

![](https://images.hive.blog/DQmQWJ2Xhr8x6g7Ejh4ge4jWDzak2UquWU1JhLQyEr1KxBy/eth.jpg)
[Source](https://twitter.com/ali_charts/status/1728063924912959704/photo/1)

According to the chart, for the first time in the last nine months, whales have been on a consistent Ethereum accumulation spree for nine consecutive days. At the time of writing, Ethereum is trading at $2,036, up 1% in 24 hours.

![](https://images.hive.blog/DQmX5sJxCZR1Z3bvDBQJEYpAMB6Ej4ShPdrgfpCSiPPyA6r/xrp.jpg)
[Source](https://twitter.com/ali_charts/status/1728517545408217420/photo/1)

Additionally, according to the chart shared by Martinez, it appears that XRP whales purchased approximately 11 million XRP last week. At the time of writing, XRP is trading at $0.6964, up 1.45% in 24 hours.

Although many cryptocurrencies, especially Bitcoin, Ethereum , want to go higher, there are uncertainties in the crypto markets, so they cannot move higher. I think it is truly remarkable that whales buy such large amounts and withdraw large amounts of BTC from centralized crypto exchanges. Because when I examine the crypto markets in general, I see that individual investors are worried and fearful, so I think that such large purchases and withdrawals may be made by corporate companies.

Such purchases and large amounts of crypto withdrawn from centralized exchanges can be a strong signal for a big rise. That's why I love seeing this type of data. It is difficult to know what will happen in the crypto markets, but I think we are very close to a bull market. I don't think it's a coincidence that corporates focus on accumulating certain assets, I think they know or foresee more than we do. We'll wait and see.

>This is not investment advice, just my personal opinions. As with all money markets, anything can happen at any time in the crypto market, so please do your own research before investing.

Thank you for reading.
@rtonline

Posted Using [InLeo Alpha](https://inleo.io/@rtonline/while-whales-accumulate-ethereum-and-xrp-they-withdraw-bitcoin-from-exchanges-so-why)