Bitcoin whales suddenly move over $123 M BTC

A cryptocurrency tracking platform says that a Bitcoin (BTC) whale is moving over $123 million in crypto in a single transaction.

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Bitcoin whales suddenly move over $123 M BTC

According to Whale Alert, an unknown wallet sent 5,444 BTC worth over $105 million to a second unknown wallet, as well as 969.77 BTC worth over $18.7 million to an unknown wallet. Tuesday, on Tuesday.

The transaction reportedly cost only 0.0000621 BTC, worth $1.19 at the time it was processed.

Other major Bitcoin transactions this week include crypto exchange FTX sending 1,082 BTC worth more than $21.8 million to an unknown wallet on Tuesday.

FTX also deposited 1,108 BTC worth over $22 million into an unknown wallet later that day.

Additionally, another exchange, Coinbase, sent 1,096 Bitcoins worth over $22 million to an unknown wallet on the same day.

Cryptocurrency analytics firm Santiment noted last week that Bitcoin’s exchange supply has hit a four-year low of 8.48%.

"As exchange incentives decrease, the chances of future liquidation decrease."

Source: santimentfeed / Twitter

Santiment also noted last week that small and medium Bitcoin addresses (containing 0.1 to 10 BTC) hold 15.9% of the coin's available supply, an all-time high.

Source: santimentfeed / Twitter

BTC is trading at $20,767 at press time. The top-ranked crypto asset by market capitalization is up more than 3% in the last 24 hours and over 9% in the last week.

Oct 27, 2022

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