Bitcoin Whales Initiate Huge Coinbase Transfers, Moving $409,000,000 in BTC As Volatility Rocks Crypto Markets

Time Stamp: February 21, 2022 3:55 PM
Source Node: 1182347

Some of the largest Bitcoin (BTC) holders in the world are moving massive amounts of BTC amid widespread market volatility.

In the past 24 hours, whales moved a total of 10,653 Bitcoin worth approximately $409,316,661 to and from Coinbase – with the vast majority of the transfers moving BTC off of the exchange to unknown wallets.

The largest single transfer sent 5,000 BTC from Coinbase to an unidentified wallet. That transaction alone was worth over $190.1 million at time of transfer.

The rest of the super-sized outflows off of Coinbase occurred as follows:

A fifth transaction flowed the other way, moving 1,085 BTC worth $42.6 million from an unknown wallet to Coinbase.

Crypto analyst Will Clemente says deep-pocketed BTC holders appear to be interested in buying the flagship cryptocurrency between $30,000 and $35,000.

“…We can look at spot order books and see where areas of interest are for large players. Seeing a confluence across several major exchanges of interest at that $30k level. 

And lastly, looking at whales’ holdings, saw a fairly substantial uptick on the move down to $30k a few weeks ago, showing that was a level that they were interested in doing business.”

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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/Creative’s Basket/Vladimir Sazonov

The post Bitcoin Whales Initiate Huge Coinbase Transfers, Moving $409,000,000 in BTC As Volatility Rocks Crypto Markets appeared first on The Daily Hodl.

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