Acoording to a blockchainย tech intelligence company Arkham, a Bitcoinย (BTC) whale has executed a substantial movement of over 31,000 Bitcoins (BTC) from their cold wallets. Will it influence the Bitcoin price momentum negatively?
Whale Transaction History
After transferring 31000 bitcoins to cold wallet, worth over $822 Million, they hold Bitcoin in these two wallets:
- 20,000 Bitcoin in 31pCdkyF6Ep8UkzpkWpv3SMbY3C5s7VhXL
- 11,200 Bitcoin in 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN
The trading firmโs Bitcoin holdings were stored in wallets that had remained inactive since late 2022. These wallets received a substantial sum of 21,600 Bitcoin directly from trending exchanges Binanceย Cryptoย exchange and Huobi in early October 2022.
It is worth keepingย inย mindย that Binanceย Cryptoย exchange, one of the leading digitalย currency exchanges, played a wholeย lotย of role in facilitating the movement of Bitcoin for this trading firm.
As FTXย Tradingย Ltd, a prominent cryptocurrency exchange, temporarily halted withdrawals in early November, the trading company withdrew anย extra 15,000 Bitcoin from their Binanceย Cryptoย exchange account. This withdrawal further contributed to the movement of funds from their active exchange accounts to their cold wallets, ensuring enhanced security and control over their digital assets.
Bitcoinย (BTC) Price Movement
Bitcoinย (BTC) whale transactions like this significantly influence market trends through large buy/sell orders and market manipulation strategies. Bitcoinย (BTC) is down 1.87 percent in the last 24 hours.
Bitcoinย (BTC) recovered most losses after slumping to slumped to $26,500 pastย week and stood at and over $27,000 during the weekend. The start of thisย comingย week was even more positive as it jumped to $27,500 on Tuesday to chart a multi-day high.
Read Latest Bitcoin Price Prediction On CoinGape..
Nonetheless, the bears intercepted the move and didnโt allow any further increases. Just the opposite, theyย pushed the investment back down to around $26k.
Reportsย by live tracking on Coinmarketcap, the live Bitcoinย (BTC) price today is $26,135.84 USD with a 24-hour volumeย ofย trading of $15,928,373,313 USD.
