Bitcoin whales moving millions of dollars worth of BTC as the volatile crypto markets rally to start the week
Earlier this week, the Bitcoin whales continued to move millions of dollars worth of BTC as the cryptocurrency market began to fluctuate.
24,923 BTC along With 57,000 ETH and 46,000,000 XRP amid wild day of trading
Over the past 24 hours, when Bitcoin dropped to $ 5,785 before exploding to $ 6,389 – some of the wealthiest Bitcoin holders in the market transferred 24,923 BTC, worth $ 148.9 million.
This transaction included 15 transfers of 1,000 BTC, worth $ 5.9 million each. While trying to trace the origin of the money transfers to wallets created by the Huobi cryptocurrency exchange, the funds are not owned by Huobi itself or one of its customers.
Besides, five whales moved a total of 5,401 BTC worth $33.6 million from crypto exchanges from unknown wallets to exchanges, where it could potentially be sold on the open market. Here’s an overview of the most massive transfers on the last day.
- 2,000 BTC worth $12.4 million sent from unknown wallet to OKEx
- 1,270 BTC worth $7.9 million sent from Binance to OKEx
- 790 BTC worth $5.0 million sent from Coinbase to an unknown wallet
- 1,000 BTC worth $6.2 million sent from unknown wallet to OKEx
- 1,050 BTC worth $6.5 million sent from bitFlyer to unknown wallet
- 801 BTC worth $5.0 million sent from unknown wallet to Binance
- 800 BTC worth $5.0 million sent from unknown wallet to Binance
- 800 BTC worth $5.0 million sent from unknown wallet to Binance
- 1,412 BTC worth $8.3 million sent from Coinbase to an unknown wallet
- 15,000 BTC worth $87.6 million sent from Huobi to unknown wallet (15 transactions)
Whale watchers are also following a large pair of Ethereum (ETH) and XRP transfers to start the week.
46,000,000 #XRP (6,935,745 USD) transferred from #Bithumb to unknown wallet
— Whale Alert (@whale_alert) March 23, 2020
57,000 #ETH (7,150,329 USD) transferred from #Bithumb to unknown wallet
— Whale Alert (@whale_alert) March 23, 2020
Both movements involving cryptocurrencies were sent from South Korea’s Bithumb exchange to unidentified wallets.
A Bitcoin whales moves nearly $90 mln in BTC
As the recent news broke of the US Fed Reserve announcing ‘QE Infinity’ – a commitment to buy an infinite amount of Treasuries and mortgage bonds – Bitcoin quickly left the $6,000 level behind.
These transactions were made before the announcement. Overall, many investors bought BTC on the dip in large amounts and put it on their cold wallets for long-term holding. This trader seems to be one of them and has again moved a mammoth-sized amount of BTC from Huobi exchange to an anonymous wallet.
Earlier today, before news broke from the Fed, trader ‘The Crypto Dog’ spread the word about a crypto whale who was bearish on Bitcoin.
New message from asian whale friend:
“I’m not just bearish on $BTC, I’m bearish on the world.” https://t.co/LqLLKbZG6G
— The Crypto Dog? (@TheCryptoDog) March 23, 2020
However, the situation might change now as many on Twitter who were bearish or carefully bullish have become much more optimistic on Bitcoin after the ‘QE Infinity’ was announced.
Read more:
- U.S. Fed Reserve Announces A Slew Of New QE Measures To Help Financial System Recover, Bitcoin Supporters Turning Ultra-Bullish
- BitMEX Explains The Role Of Insurance Fund In A Mass Liquidation Event During Which BTC/USD Crashed 60%