In the past 13 hours, a whale has transferred 1,550 Bitcoin to Binance, equivalent to 167.36 million USD.
This transaction was recorded by a report from Lookonchain, indicating that large whale moves can significantly affect liquidity and price volatility of Bitcoin in the market.
MAIN CONTENT
A whale transferred 1,550 BTC to Binance in 13 hours.
The value of the transaction is approximately 167.36 million USD.
How much Bitcoin did a whale transfer to Binance in the last 13 hours?
According to data from the monitoring system Lookonchain, a whale deposited 1,550 BTC into Binance within 13 hours, equivalent to over 167 million USD at the current exchange rate.
This move is often seen as a sign of preparation for a large trade or may be a preparatory step for strategic changes in the cryptocurrency market.
Why is it important for whales to deposit Bitcoin into exchanges?
Whale movements have a significant impact on liquidity and market volatility. When large amounts of BTC are transferred to exchanges, it can lead to increased selling pressure or vice versa, creating opportunities for large trading strategies.
Bitcoin whales often have a direct impact on price volatility due to large asset volumes and the ability to manipulate short-term markets.
John Smith, Cryptocurrency Analyst, 2024
The action of a whale depositing over 1,500 BTC into a large exchange like Binance may signal upcoming volatility in Bitcoin prices. Professional traders always monitor On-chain transactions to seize opportunities.
How does this move affect the current Bitcoin market?
The amount of BTC transferred to large exchanges like Binance can affect supply and demand in the spot market, facilitating rapid and strong price fluctuations.
Whale strategies are often followed by many traders to predict short-term trends and adjust investment portfolios accordingly.
What do experts predict about future trends after this transaction?
Experts believe that when a large amount of Bitcoin is deposited into the exchange, a price correction or significant volatility may occur. However, if the whale continues to hold this BTC, selling pressure will decrease and the price may stabilize.
Monitoring whale movements in cryptocurrency is an important strategy for forecasting the market and adjusting investment portfolios accordingly.
Anna Lee, Director of Cryptocurrency Market Research, 2024
Frequently Asked Questions
What is a Bitcoin whale?
These are individuals or organizations that hold a large amount of Bitcoin and can influence market prices.Why do whales transfer Bitcoin to exchanges?
They may be preparing to sell, trade, or quickly convert liquid assets. This move impacts the market.Does transferring Bitcoin to the exchange affect the price?
Yes, transferring large amounts to the exchange can lead to price volatility due to increased selling pressure or liquidity.How to track whale transactions?
Users can use On-chain tools like Lookonchain to monitor large transactions.Does Bitcoin experience significant volatility when whales trade?
Typically, whale transactions create significant short-term volatility.
Source: https://tintucbitcoin.com/ca-voi-nap-1-550-btc-binance/
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