Bitcoin Whales Move 7,200 BTC to Coinbase
Bitcoin has recently gained significant traction in the crypto market as multiple whale transfers have been observed heading towards the Coinbase exchange. These whale transfers involved a total of 7,200 BTC being moved, sparking speculation among crypto enthusiasts as the market remained stagnant around $42K.
Whale Transactions Involving BTC
According to data from Whale Alert, a platform that tracks blockchain metrics, five notable transactions occurred within the past 24 hours. Unknown wallets were responsible for transferring 7,200 BTC to Coinbase in a series of transactions.
One of these wallets, identified as 1B31duP63n…JMAtzxnUgz, transferred 2,310 BTC to Coinbase through multiple transfers. Another wallet address, 1K9kvhQVMG…RwH2jX8SFn, moved 2,461 BTC to the centralized exchange.
In addition to these transfers, three more whale transactions were recorded, totaling 5,995 BTC being shifted to Coinbase. The wallets involved were 1JB7v5GmLm…XttNFhKpRm, 13XXgwfjRr…ujuMRZFx2A, and bc1qsqwp5h…rf3armszq2.
The significant influx of Bitcoin into Coinbase suggests a potential increase in the token’s supply and correlates with the price drop observed in the digital currency today.
Predictions for Bitcoin Price
Despite the recent price drop, prominent crypto analyst Michael van de Poppe remains optimistic about Bitcoin’s future. He predicts that the BTC price is poised to break $50K and anticipates an exciting month for cryptocurrencies in December, potentially signaling a forthcoming bull run for Bitcoin.
Hot Take: Bitcoin Whales Fuel Speculation of Bull Run
The recent whale transfers of 7,200 BTC to Coinbase have sparked speculation among crypto market enthusiasts. While the market has experienced a price drop, leading analyst Michael van de Poppe predicts that Bitcoin’s price will continue to rally and could surpass $50K. These whale transactions indicate a potential increase in Bitcoin’s supply and suggest that exciting times lie ahead for the cryptocurrency market. Keep an eye on Bitcoin as it may be gearing up for a significant upward movement.
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