$1 Billion Bitcoin Transfer Triggers Massive Liquidations — This Is Where It Was Offloaded
A Bitcoin (CRYPTO: BTC) transfer of nearly $1 billion has caused a stir in the cryptocurrency market.
What Happened: The transfer, which originated from Coinbase, was sent to an unidentified wallet, leading to speculation about potential institutional accumulation or a significant holder’s long-term cold storage.
According to the Whale Alert, 7,743 BTC, valued around $916.25 million, was moved from Coinbase to a new wallet. The transaction occurred when Bitcoin was trading at $118,329.11. This event is part of a larger trend of increased whale activity in the Bitcoin market.
As per data from IntoTheBlock confirms a significant increase in large transactions over the past two weeks, suggesting a resurgence of significant holders in the ecosystem.
Adding to the intrigue, a Bitcoin whale dormant for 14 years has reemerged, moving billions of dollars’ worth of BTC in a matter of hours.
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