According to a report by Whale Alert, on-chain data trackers Bitcoin (BTC) transaction. In the past 24 hours, a huge amount of Bitcoin was transferred from wallets marked as unknown. These transactions have a legal value of over $2.3 billion. These were performed on five substantial trades, demonstrating the volatility and activity within the crypto market.
Coinbase eyes $1 billion Bitcoin withdrawal
The smallest of these five transactions moved 4,799 BTC. Another notable transaction involved the transfer of 7,452 BTC. His remaining three transactions each amounted to more than 8,100 Bitcoins, with the largest transaction amounting to 8,734 BTC, with a value of approximately $560,821,374. These transfers not only represent large market swings, but also highlight the inherent liquidity and dynamism of crypto exchanges.
A staggering amount of Bitcoin worth around $1 billion was withdrawn. coinbase, a major cryptocurrency exchange. This withdrawal, consisting of his two main trades of 8,172 BTC and 8,136 BTC, marks a significant change in asset allocation. Such a withdrawal from a major exchange like Coinbase could impact market perception and investors' strategies.
Long-term holder shifts 90,000 BTC amidst volatility
Ali Martinez, a prominent crypto trader and analyst, shared his insights on the dynamics of the Bitcoin market. According to Martinez, in the past day, his anonymous blockchain address has accumulated more than 25,000 BTC. This amount is equivalent to approximately $1.6 billion and will be the largest inflow into an accumulation wallet so far in 2024. This trend shows the growing interest in Bitcoin accumulation amid market fluctuations.
After plunging 5.29% on Friday. bitcoin price Although it fell from $66,490 to $62,975, the cryptocurrency recovered slightly. It has gained back $64,560 in price in the last 24 hours. These price movements reflect the volatile nature of cryptocurrencies and the market's quick reaction to external factors.
Cryptocurrency analysis firm CryptoQuant provided additional on-chain data to shed light on the current state of the market. The data revealed significant asset exchanges among long-term holders, especially from wallets that were between 3 and 5 years old.about 90,000BTC There have been changes during this period, indicating a significant change in long-term investment strategy. Mignolet, a digital asset analyst, noted that this move is consistent with market outlook and price peaks, suggesting a possible future correction.
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