Bitcoin Whales Transfer 14.5K BTC as Price Slips Past $42K
Bitcoin, the first cryptocurrency created in 2009, recently saw significant whale transfers to a CEX. A total of 14.5K BTC was moved between unknown wallets and Coinbase, a San Francisco-based CEX. This whale activity gained traction across the crypto market as Bitcoin’s price dropped.
Bitcoin Whale Transfers: Detailed Analysis
According to Whale Alert, a blockchain tracking platform, 8,936 BTC was transferred from unknown wallets to Coinbase, while 5,564 BTC was moved from Coinbase to unknown wallets. The transfers to Coinbase occurred in four transactions, with the first two transactions transferring 3,144 BTC each. The other two transactions transferred 500 BTC and 2,149 BTC respectively.
On the other hand, the transfers from Coinbase to unknown wallets also occurred in four transactions, with each transaction moving varying amounts of BTC.
Bitcoin Price Drops
The price of Bitcoin experienced a downward trend, dropping 2.05% in the past 24 hours and 4.55% over the week. However, crypto analyst Muro Crypto remains bullish on Bitcoin despite the recent fall.
Hot Take: Analyst Remains Bullish on Bitcoin
Muro Crypto expressed optimism for Bitcoin’s future despite the recent price drop. According to him, the current market dynamics and close indicate a bullish trend for the token. This positive outlook fuels global confidence in Bitcoin.
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