Whales are on the move in the crypto market, as Bitcoin (BTC) consolidates above $30,000. Blockchain monitoring service Whale Alert spotted a series of massive Bitcoin transactions totaling 28,377 BTC, worth over $856 million.
One of the most significant transactions in the past day involved a crypto whale moving 9,819 BTC, worth nearly $300 million, from an unknown wallet to another unknown wallet. The whale only paid less than $8 for the transfer.
Another transfer saw an entity move 5,503 BTC, worth over $165 million, between wallets of unknown origin, paying about $10 to process the transaction.
Additionally, a crypto whale shifted 5,000 BTC, worth over $150 million, from an unknown wallet to another unknown wallet, paying less than $7 for the move.
Other large BTC transactions involved movement between wallets of unknown origin and centralized crypto exchanges. One whale withdrew hundreds of Bitcoin from Binance, while another whale sent BTC to Coinbase.
Whale Alert’s report highlights the power of crypto whales to influence the market. With their ability to shift massive amounts of Bitcoin, they can potentially create waves of selling or buying, causing prices to fluctuate rapidly.
