ביטקאָין וואַלפיש טראַנספערס איבער 132 ק בטק צו יקסטשיינדזשיז אין די לעצטע 3 טעג

ביטינפאָטשאַרץ דאַטע on Thursday shows that the former 3rd largest off-exchange whale has emptied its wallet after sending out all its holdings to exchanges over the last three days. 

טוועעץ from Whale Alert, a blockchain tracking system, show that the unknown whale on Thursday transferred about 29k BTC in four transactions executed in quick succession. The whale first made three transactions of over  8k BTC before making the final transaction of 4007 BTC moments later.

As געמאלדן by די קריפּטאָ באַסיק, the same whale had transferred 46,000 BTC and 15,500 BTC in the last two days, fueling speculations that it was deciding to leave the market and a dump was coming soon. It is worth noting that whale movements have historically proven to be good indicators of future price movements.

ניט דאַרפֿן צו פּאַניק 

While Whale Alert has identified the receiving Bitcoin address as belonging to a Coinbase hot wallet, indicating a desire of the whale to sell, CryptoQuant chief Ki Young Ju believes the on-chain data says otherwise.

According to Ki, in a Twitter thread on Wednesday, the transactions represent an internal transfer to a Gemini custodian wallet as he believes the addresses have been mislabeled. 

“This one is just an internal transfer to “1LQoW…” which might be a cold wallet or custodian wallet, highly likely owned by @Gemini,” tweets Ki. “What’s obvious is that it’s not a user deposit to exchange hot wallets for selling $BTC. Not at all.”

דאָס איז FUD.

דאָס איז נאָר אַן ינערלעך אַריבערפירן צו "1LQoW ..." וואָס קען זיין אַ קאַלט בייַטל אָדער קאַסטאַדיאַן בייַטל, העכסט מסתּמא אָונד דורך @געמיני.

וואָס איז קלאָר ווי דער טאָג איז אַז עס איז נישט אַ באַניצער אַוועקלייגן צו וועקסל הייס וואָלאַץ פֿאַר סעלינג $ בטק. בכלל נישט. https://t.co/ieLJ7QEw5T pic.twitter.com/1ianKMwKoW

- קי יונג דזשו (@ki_young_ju) יולי קסנומקס, קסנומקס

Notably, the CryptoQuant chief updating the thread today as the whale address empties its wallet notes that the transfer appears to be completed. 

This internal transfer seems to be finished soon.

די מנוחה פון די $ בטק held by “1P5Z…” moved to “1LQo…” Now, this new cold wallet has 103k BTC, and 29k BTC might be added more from “1FzW…”

Let me know if you still believe the narrative “n-th biggest whale is selling BTC.” pic.twitter.com/cFJJhuu9g4

- קי יונג דזשו (@ki_young_ju) יולי קסנומקס, קסנומקס

It is worth noting that the crypto markets have had an impressive run this week as Bitcoin again tapped the $24k price point and the entire market cap reached above the $1 trillion mark once again. Notably, the move saw Bitcoin break its longest extreme fear streak of 73 days as it pushed past the significant 200 WMA resistance.

At the time of writing, Bitcoin is trading just below the $23k price point, up 13.91% in the last seven days.

- אַדווערטייזמאַנט -