There has never been a phenomenon of BTC being withdrawn from the exchanges continuously while the price of BTC has been continuing to plummet since 2012.
Whales tend to utilize the BTC supply changes to control the BTC price. When the total supply decreases, it then makes a condition for the BTC price to easily increase due to the higher BTC rarity level. Conversely, the increase in the total supply can facilitate the decreasing tendency of the BTC price because of the lower level of BTC rarity. In this way, the current positive correlation between the BTC supply and the BTC price is found to be unprecedented.
The recent continuous withdrawal of BTC from exchanges happening at the same time with the decrease of the BTC price shows 2 things: 1 is that whales are trying to accumulate more BTC to lower the average purchase price (since most whales are suffering losses), and 2 is that whales are creating the decrease in the total BTC supply and accordingly boost the BTC rarity level to make the BTC price more easily increase or sideways rather than decreasing.
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