Bitcoin Whale Exchange Deposits Hit Highest Level Since Oct. 8

Bitcoin (BTC) whales transferred 10,605 BTC to exchanges on Oct. 20, the highest daily total since Oct. 8, making more coins available to trade as large short-term holders’ unrealized gains declined. The amount was 2.8 times the 30-day daily average of 3,815 BTC. A transfer to an exchange records a deposit, not a completed sale. Unrealized profit among large short-term holders stood at $4.6 billion on Oct. 20, down 53% from a $9.8 billion peak on Sept. 22. The measure tracks gains on coins still held. Those gains narrowed, but the group remained in profit.