According to Lookonchain, significant Bitcoin whale accumulation is underway as the wallet bc1qcp withdrew 1,350 BTC (valued at $141.91M) from Binance eight hours ago, now holding a total of 20,723 BTC ($2.19B). Another whale, bc1qpu, associated with Abraxas Capital, withdrew 675 BTC ($71.03M) from Kraken seven hours ago, currently holding 1,797 BTC ($190.11M). These large-scale withdrawals from major exchanges indicate strong bullish sentiment among institutional investors, reducing available exchange supply and potentially creating upward pressure on BTC price in the short term (Source: Lookonchain, Twitter, May 20, 2025).