![Single whale withdraws over $120M in Bitcoin from crypto exchange Gate.io](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/bitcoin-Insights-2.jpg&w=70&h=37&q=75)
Quick Take
- On Feb. 4, a single entity withdrew over $120M in Bitcoin from Gate.io, the second largest withdrawal in the exchange’s history.
- Roughly 10,000 Bitcoin were withdrawn from exchanges over the weekend.
- Currently, 2.24M Bitcoin sitting are on exchanges, the lowest level in the past five years.
- Gate.io has 7,000 BTC left on the exchange.
![Balance on exchange: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/02/exchange.png)
![Net transfer volume by size: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/02/gate.io_.jpg)