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CDS Crypto News $44 Million Moved by Bitcoin Whale, Another Sells $14 Million

Crypto News

$44 Million Moved by Bitcoin Whale, Another Sells $14 Million

A $44 million worth of BTC was moved, while another sold $14 million worth of WBTC.

sevval06/05/20241 Mins read39

$44 Million Moved by Bitcoin Whale, Another Sells $14 Million

Crypto News– Recent transactions by two prominent Bitcoin (BTC) whales have sparked intrigue in the cryptocurrency market. One whale broke a decade-long dormancy by moving a substantial amount of BTC, while another orchestrated a sizable WBTC sale for millions in stablecoins.

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$44 Million Moved by Bitcoin Whale, Another Sells $14 Million

These maneuvers underscore evolving strategies among key players and raise speculation about potential market impacts.

Bitcoin Whales Reconsider Portfolio Strategies

Two notable Bitcoin transactions have caused a stir in the cryptocurrency market. The first involves crypto whale address 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G, which, after a hiatus of 10.3 years, transferred a substantial 687.33 BTC, valued at around $43.94 million, to a new wallet.

This transaction, identified through the blockchain with ID 605c67609ba71c3e707fc73af52a94a982cbd039315ea7beb85e99de59be7402, represents a significant transfer from the old wallet address, 15WZNLACuvcDrrBL2btDErJggnaMQtHh5G, to a new one at bc1qky2rlawjxfschh2q3t7kp8665g9jnpfqqzqzuu.

The historical significance of this crypto whale’s BTC, acquired in January 2014 when Bitcoin’s price was $917, underscores the cryptocurrency market’s remarkable growth and enduring volatility.

According to blockchain analytics firm Spot On Chain, this movement may signal strategic asset reallocation or preparation for a potential sale, sparking discussions and speculations among market analysts and enthusiasts.

Meanwhile, another notable player, address 0x4860d039cbc7cffb0267f86e63f4b4442b71505e, conducted a significant transaction. This crypto whale sold 224.412 Wrapped Bitcoin (WBTC) for a combined $14.38 million in DAI and USDT. The transaction took place amidst a recovering market, with Bitcoin’s price recently surpassing $64,000.

Despite market fluctuations, this crypto whale has remained active in trading, earning over $4.5 million from various transactions. Notably, they made a substantial purchase of 684 WBTC at an average price of $53,387 from exchanges such as Binance and Bybit.