Anonymous whales have withdrawn two massive lumps of Bitcoin to their wallet
Whale Alert and some reports discovered two large Bitcoin transfers made from the Coinbase exchange to a wallet belonging to an anonymous crypto investor.
7,831 BTC moved from Coinbase to cold wallets as BTC targets $46,000
This has already been done, while Bitcoin is floating above $41,000 and is expected to return to the $46,000 zone. The anonymous whales made two transactions to withdraw 7,831 Bitcoins to their addresses 19rTnWD1ZbUE7B9q1WZx2ZiswjiyyMUYbc and bc1q57lzn64qpmrc3289jarge3g7nmlfwqu8jfdev0. These whales withdrew blocks of 6,018 and 1,813 BTC worth $254,646,370 and $75,743,920 respectively.
— Whale Alert (@whale_alert) April 21, 2022
According to BitInfoCharts, the second address contains no Bitcoins at writing after the incoming transaction occurred today. The first address, which received 6,018 BTC, keeps the amount of Bitcoin received on its balance.
On March 25th, it also received 300 BTC but sent them out the same day.
In a recently published tweet, founder of Crypto Capital Venture Dan Gambardello stated that he expects the next target for Bitcoin price to be $46,000. He believes that the upside is possible as Bitcoin is experiencing a Head & Shoulders inverse pattern.
— Dan Gambardello (@cryptorecruitr) April 21, 2022
A possible reason why Bitcoin has demonstrated an increase over the past few days. On April 11, the leading global cryptocurrency fell below $42,900 and hit a low of $39,000 on April 18. Today, Bitcoin has increased by 2.89%, rising from $41,367 to $42,563. Bitcoin price is driven by its strong correlation with the Nasdaq and S&P 500 indexes.
The second coin is showing an increase at the moment, trading at $4,459. It recovered from $4,391. The Nasdaq Composite Index also increases from 158 EUR to 160 EUR. On March 29, the S&P 500 was trading at $4,631, while Bitcoin changed hands at $47,536. The correlation between Bitcoin and traditional financial markets is at its highest value in 2022.
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