Mysterious Bitcoin "Whale" Suddenly Moves Over $134,000,000 in BTC – Where is the Cryptocurrency Heading?
This person or group has been buying BTC since they were very low and have not touched their assets until now, but now they are suddenly moving hundreds of millions of dollars from a centralized cryptocurrency exchange platform.
New data from a whale-watching platform shows a wealthy investor suddenly moved 5,140 BTC, or $134 million worth of the top cryptocurrency by market cap, from Dubai-based cryptocurrency exchange Bybit to an unknown wallet. This comes at a time when data from leading cryptocurrency analytics platform Santiment shows that the amount of BTC on exchanges has reached its lowest level in six years.
What's more, the market intelligence firm finds that wealthy Bitcoin investors make an average transaction of 57,400 BTC, worth over $100,000 per week.
“Only 5.8% of Bitcoin is currently traded on exchanges, which is officially the lowest level the top-cap cryptocurrency has seen since December 17, 2017. We also continue to see a significant number of whale transactions in Bitcoin (57,400 weekly).”
When BTC movement is directed to wallets, this may indicate an accumulation phase and preparation for growth.
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