Whale Transfers Bitcoin Worth US$347 Million,
Bitcoin Whale (BTC) transferred more than 3,165 BTC worth US$347 million to the Coinbase exchange within two hours on Wednesday (11/06). This transfer occurred in several transactions from an anonymous wallet, with the largest transaction reaching 794 BTC or worth US$86.9 million.
One significant transaction involved 510 BTC or worth US$56.1 million sent from a crypto trading firm Institutional. Large activities like this usually indicate potential selling by whales or large institutions.
Investors have become cautious because large flows of Bitcoin to exchanges are often associated with sell-offs that can affect prices. Although the exact reasons are not yet known, the patterns of transfer and involvement suggest a large position strategy by institutional players.
As a note, at the time this article was written, Bitcoin was at US$107,736 or down 1.70% in the last 24 hours after the Consumer Price Index (CPI) or inflation in the United States was reported to have risen 2.4% year-on-year in May.
Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).
