According to Lookonchain, large Bitcoin holders have significantly increased their accumulation activity, with the wallet bc1qcp withdrawing 1,350 BTC (worth $141.91 million) from Binance within the past 8 hours, now holding a total of 20,723 BTC ($2.19 billion). Additionally, the wallet bc1qpu, associated with Abraxas Capital, withdrew 675 BTC ($71.03 million) from Kraken within 7 hours and currently holds 1,797 BTC ($190.11 million). These substantial outflows from major exchanges indicate strong whale confidence and reduce immediate selling pressure, a factor often associated with bullish price momentum in the short term. Traders should closely monitor these on-chain movements as continued whale accumulation typically precedes significant market moves. (Source: Lookonchain Twitter, May 20, 2025)