🚀 Breaking News: Fifth-Richest Bitcoin Whale Moves Over $6B Worth of BTC! 🐋
📈 The fifth-largest Bitcoin holding address, known as "37X," has made a monumental move, transferring over $6 billion worth of BTC to three new addresses for the first time since 2019.
💼 Here's the breakdown:
- The whale shifted nearly its entire balance of 94,500 Bitcoin, valued at $6.05 billion, on March 23.
- A whopping $5.03 billion BTC was sent to address bc1q8yj, while addresses bc1q6m5 and bc1q592 received $561.46M and $488.40M in BTC, respectively.
- Notably, address bc1q592 has already forwarded those funds elsewhere.
📉 This transfer comes amidst heightened institutional interest in Bitcoin, fueled by the impending Bitcoin halving, set to slash block issuance rewards by half in just 25 days.
💡 Insight: Despite Bitcoin's recent all-time high, the reduction in incoming supply issuance is not fully priced in yet, according to industry experts.
💰 Additionally, Bitcoin ETFs have surged in popularity, reaching a combined total of $58.3 billion in on-chain holdings, representing 4.17% of the current BTC supply.
📈 With Bitcoin's price surging to $71,222 and investors accumulating BTC off exchanges, the crypto market is buzzing with anticipation for the upcoming halving and increased institutional inflows.
Stay tuned for more updates on this evolving story! 📰🔥
