Bitcoin sees $771M in whale withdrawals – Why BTC could reclaim $84K

Institutional activity around Bitcoin [BTC] escalated as Fidelity and BlackRock received significant BTC transfers into their ETF wallets, suggesting fresh interest among these key asset managers. According to Onchain Lens on X, Fidelity's FBTC ETF wallet reportedly received 282.63 BTC valued around $23.08 million from Binance. Additionally, BlackRock's ETF wallets also received 384.77 BTC, valued at approximately $31.4 million. Combined, these transactions reflected a continued institutional activity despite Bitcoin's latest price weakness. Here it is important to note that even though wallet transfers alone could not validate fresh purchases, the movements strengthened the attention toward institutional Bitcoin positioning. Beyond the institutional activity, another noteworthy accumulation activity emerged among newly created wallets.

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