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Bitcoin Whale Abruptly Moves Over $123,000,000 in BTC – Here’s Where the Crypto Is Going

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A crypto-tracking platform says that one Bitcoin (BTC) whale is moving more than $123 million worth of crypto in a single transaction.

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

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

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

FTX also sent 1,108 BTC worth more than $22 million to a single unknown wallet later that day.

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

Crypto analytics firm Santiment noted last week that Bitcoin exchange supply had reached a four-year low of 8.48%.

“As exchange supply decreases, it de-risks chances of a future sell-off.”

Source: santimentfeed/Twitter

Santiment also noted last week that Bitcoin’s small to mid-sized addresses (holding 0.1 to 10 BTC) held 15.9% of the coin’s available supply, an all-time high level.

Source: santimentfeed/Twitter

BTC is trading at $20,767 at time of writing. The top-ranked crypto asset by market cap is up more than 3% in the past 24 hours and more than 9% in the past week.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/thailerderden10





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