Massive Bitcoin Transfers Exceed $2.3 Billion in 24 Hours: What It Means for Crypto Markets”
According to respected cryptocurrency tracker Whale Alert, over the past 24 hours, transactions have been conducted through wallets classified as unknown, surpassing a total of $2.3 billion worth of BTC traded in the cryptocurrency markets.
These transactions occurred in five massive transfers, the smallest of which involved the movement of 4,799 bitcoins. One transfer involved 7,452 bitcoins, while the other three each moved over 8,100 bitcoins. The largest transfer consisted of 8,734 bitcoins valued at $560,821,374.
Among these five massive transfers, nearly a billion dollars worth of Bitcoin was withdrawn from the cryptocurrency exchange Coinbase—8,172 bitcoins and 8,136 bitcoins, respectively.
Earlier today, prominent cryptocurrency trader and analyst Ali Martinez also shared that over the past day, more than 25,000 bitcoins worth approximately $1.6 billion were aggregated through unknown blockchain addresses. Martinez noted that this marked the largest influx of Bitcoin into accumulation wallets in 2024 thus far.
As for the market, Bitcoin experienced a 5.29% decrease, dropping from $66,490 to $62,975. However, over the past 24 hours, the world’s leading cryptocurrency managed to achieve a modest recovery, reclaiming a price of $64,560.
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