💥More than 100 million US dollars in Bitcoin transfers! Is the cryptocurrency world going to change?

Brothers, there has been a big movement in the cryptocurrency circle recently! In the cryptocurrency market, the price trend of top crypto assets is so complicated, just like riding a roller coaster, up and down. At this juncture, the famous blockchain tracking platform Whale Alert discovered a huge Bitcoin transfer of more than 100 million US dollars, which immediately caused a stir in the cryptocurrency circle.

On May 27, the tracker showed that the US cryptocurrency exchange Coinbase received two large Bitcoin transfers, involving a total of 1,588 BTC, worth more than 150 million US dollars. These two transfers were completed in less than an hour, just like a relay race.

And the wallets of each transfer are anonymous. The first transfer was 910 BTC, worth 100,220,361 US dollars; the second transfer was 678 BTC, worth 74,686,024 US dollars.

As soon as this large amount of Bitcoin transfer came out, crypto investors were worried about whether Bitcoin whales would start selling. Why are they so worried? Because a large amount of BTC flows from self-custody wallets to exchanges, which is often related to the selling activities of high-profile investors or institutions. If big institutions start selling, the supply of Bitcoin in the market will increase, and the price will likely fall, which will affect the wallets of ordinary investors.

Interestingly, despite the large transfer, the price of Bitcoin has been on an upward trend in the past few hours.

According to CoinMarketCap, the price of Bitcoin has risen by 1.06% in the past day, and as of press time, it is trading at $110,194. However, compared with the historical high of $111,970 set five days ago, it is still down 1.59%.

So why can the price of Bitcoin still rise? Mainly because of stable inflows and rising demand for Bitcoin ETFs.

Earlier, there was news that 7,869 BTC flowed into the spot Bitcoin ETF in just one day.

This shows that the market demand for Bitcoin is still very strong. Even if there are whale transfers, it can't stop the price from rising.

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