Bitcoin Whales Moving Massive Quantities Of Apex Crypto: Where They're Transferring Their BTC

by Bibhu Pattnaik, Benzinga Staff Writer
February 18, 2023 9:02 AM | 2 min read |
Zinger Key Points
  • Whale Alert mentioned Bitcoin transactions from unknown wallets to major crypto exchanges.
  • Last week, Whale Alert reported a large Bitcoin transaction worth $123 million,

A new Whale Alert report indicates that a deep-pocketed Bitcoin BTC/USD whale has moved 5,500 BTC worth $135 million to the unknown wallet. 

Blockchain.com has reported that multiple addresses were used to carry out the transaction at a combined fee of approximately $15.61. 

At the time of writing, BTC was trading at $24,558, up 3.3% in the last 24 hours, and climbing 13% in the last seven days. 

Whale Alert also mentioned other Bitcoin transactions from unknown wallets to major crypto exchanges.

About 1,515 BTC worth $35.96 million were transferred from Binance to the unknown wallet. Similarly, 1,205 BTC worth $30.02 million were transferred from an anonymous wallet to Gemini. 

Close to 971 BTC worth $23.90 million were transferred from an unknown wallet to Coinbase, and 1,299 BTC worth $31.34 million were transferred from an anonymous wallet to Huobi. 

Last week, Whale Alert reported a large Bitcoin transaction worth $123 million, which originated from Gate.io and was transferred to an unidentified wallet. The amount sent was 5,278 BTC.

Earlier this week, the blockchain analytics platform Santiment said that investors should keep a close watch on the behavior of BTC whales.

“Bitcoin has launched to a six-month high, surprising the bearish trader sentiment. With prices jumping above $24,200 for the first time since August 14th, 2022, watch for whale addresses increasing as a sign of increased key stakeholder confidence,” Santiment tweeted. 

Santiment also suggested its followers monitor the trading volume on Bitcoin. 

Read Next: Bitcoin Miners Flee, Selling Their Balances In The Wake Of FTX's Fall

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