Whale Alert: This Bitcoin Millionaire is Transferring 14,000 BTC to an Unknown Wallet!





Bitcoin Whale Transfers Are Spiking, and Latest Whale Alert Data Shows Billions of Dollars of crypto-currencies have been moved over the past week. Among 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. The whale transfers accelerated over the weekend, when a top crypto address transferred 3,374 bitcoins from digital exchange Coinbase to an unknown wallet.

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

However, the dominance of institutional BTC holders has waned a bit 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 the strong comeback of bitcoin last week. The overall market picture is still jittery as BTC is trading down more than 65% from its all-time highs in November 2021. Read also: Shiba Inu (SHIB) Crypto: 20% Surge and Record $15 Billion Market Cap, 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 declined over the past month.

“The proportion of transfer volume making profits also exhibits a similar market structure to previous bearish lows. During the 2015 and 2018 capitulation phases, over 58% of transfer volume was making a loss, and momentum had compressed after months of bearish price action. At present, 54% of transfer volume is in loss (46% in profit), which is very close to the recovery levels of 2015/18,” Glassnode pointed out in its on-chain analysis report.

Whale transfers in bitcoin are experiencing a spike and the latest data from Whale Alert shows that billions of dollars worth of cryptocurrencies have been moved over the past week. Among 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 accelerated over the weekend, when a top crypto address transferred 3,374 bitcoins from the stock Exchange digital Coinbase to an unknown wallet.

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

However, the dominance of institutional BTC holders has waned a bit 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 the strong comeback of bitcoin last week. The overall market picture is still jittery as BTC is trading down more than 65% from its all-time highs in November 2021. See 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 declined over the past month.

“The proportion of transfer volume making profits also exhibits a similar market structure to previous bearish lows. During the 2015 and 2018 capitulation phases, over 58% of transfer volume was making a loss, and momentum had compressed after months of bearish price action. At present, 54% of transfer volume is in loss (46% in profit), which is very close to the recovery levels of 2015/18,” Glassnode pointed out in its on-chain analysis report.

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Thomas E.
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