A giant Bitcoin whale has been inactive since late 2022, and a staggering 30,000, worth more than $820 million at the time of writing, has emerged from cold wallets that have been receiving funds from multiple exchanges. Moved $1000 BTC.
According to data released by prominent blockchain intelligence firm Arkham Intelligence, wallet history shows that the wallet previously sent 21,600 bitcoins directly from popular crypto exchanges Binance and Huobi in early fall 2022. It is suggested that he received a large amount of money.
Whale currently holds BTC in two wallets, one with 20,000 BTC and another with 11,200 BTC.
This significant activity comes just one day after an interesting series of large-scale Bitcoin transactions that saw over $1 billion worth of Bitcoin moved between multiple wallets.
as benzinga reporton-chain transaction tracker WhaleAlert reported earlier this week that five unidentified wallets transferred a total of 7,206 bitcoins to a single anonymous wallet.
Additionally, a sixth transaction of equal monetary value but directed to a different anonymous wallet occurred. This series of transactions exchanged a total of 43,236 bitcoins, worth his $1.13 billion.
Such a move in such a short period of time raises questions about market dynamics and speculation. It remains to be seen if these massive transactions represent an imminent change in the Bitcoin market.
As reported by CryptoGlboe, JP Morgan strategists, led by Nikolaos Panigirtzoglou, reportedly suggested that the rising gold price could push Bitcoin price to $45,000. These two assets of his are often seen as alternatives by investors and tend to move in tandem.
Considering that the value of gold currently held for investment purposes outside of central banks is about $3 trillion, the current gold price of near $2,000 per ounce compares with the price of Bitcoin at $45,000. suggesting. Strategists suggest that this could put risk capital or volume-adjusted bitcoin on par with gold in retail investor portfolios.
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