Whale Warning: This Bitcoin Millionaire Is Transferring 14,000 BTC To An Unknown Wallet!





Bitcoin whale transfers are on the rise and the latest whale warning data shows billions of dollars worth of crypto-currencies have been moved in the last week. Of the large transfers, the most notable transaction involves moving 14,000 BTC to an unknown digital wallet.

According to details shared by Whale Alert, Bitcoin worth $ 319 million was transferred on Thursday, July 21 at 13:57 UTC. The transfer was registered on Blockstream.info. Whale transfers surged over the weekend as a top-tier crypto address transferred 3,374 bitcoins from the Coinbase digital exchange to an unknown wallet.

Large BTC addresses play an important role in the overall activity of the Bitcoin network. Data from Coinmarketcap.com indicates that the top 100 BTC addresses own over 14% of the total offer.

However, the dominance of institutional BTC holders has declined slightly in recent months after Tesla dumped nearly 75% of its cryptocurrency holdings. Listed companies around the world now hold less than 200,000 BTC.

Nervous market conditions

Despite bitcoin’s strong return last week. The overall market picture is still nervous as BTC is down more than 65% from its all-time high in November 2021. Also read: Shiba Inu (SHIB) Crypto: 20% Rise and Record Market Cap of $ 15 Billion, Should You Invest Now?. While the BTC network has seen an increase in whale transfers, the average trading volume, profitable supply, and active addresses have all declined over the past month.

“The proportion of the transfer volume that makes profits also shows a market structure similar to previous bear lows. During the capitulation phases of 2015 and 2018, more than 58% of the transfer volume was at a loss and momentum had compressed after months of bearish price movements. At the moment, 54% of the transfer volume is at a loss (46% in profit), which is very close to the recovery levels of 2015/18, ”Glassnode pointed out in its analysis report on the chain.

Bitcoin whale transfers are peaking, and the latest Whale Alert data shows that billions of dollars worth of cryptocurrencies have been moved in the past week. Of the large transfers, the most notable transaction involves moving 14,000 BTC to an unknown digital wallet.

According to details shared by Whale Alert, Bitcoin worth $ 319 million was transferred on Thursday, July 21 at 13:57 UTC. The transfer was registered on Blockstream.info. Whale transfers surged over the weekend as a high-level crypto address transferred 3,374 bitcoins from the stock Exchange Coinbase digital on an unknown wallet.

Large BTC addresses play an important role in the overall activity of the Bitcoin network. Data from Coinmarketcap.com indicates that the top 100 BTC addresses own over 14% of the total offer.

However, the dominance of institutional BTC holders has declined slightly in recent months after Tesla dumped nearly 75% of its cryptocurrency holdings. Listed companies around the world now hold less than 200,000 BTC.

Nervous market conditions

Despite bitcoin’s strong return last week. The overall market picture is still nervous as BTC is down more than 65% from its all-time high in November 2021. See the article: Bitcoin (BTC): “One man’s pain is another man’s pleasure”, should you buy low?. While the BTC network has seen an increase in whale transfers, the average trading volume, profitable supply, and active addresses have all declined over the past month.

“The proportion of the transfer volume that makes profits also shows a market structure similar to previous bear lows. During the capitulation phases of 2015 and 2018, more than 58% of the transfer volume was at a loss and momentum had compressed after months of bearish price movements. At the moment, 54% of the transfer volume is at a loss (46% in profit), which is very close to the recovery levels of 2015/18, ”Glassnode pointed out in its analysis report on the chain.

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Thomas E.
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