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$1.88B Bitcoin Transfer Spooks Markets
Whale Alert, an X-profile that tracks large cryptocurrency transactions using on-chain data, said that around 30,000 Bitcoin tokens, worth $1.88 billion at current rates, were transferred from a cold wallet to cryptocurrency exchange Binance on Tuesday.
Later reports said the transaction was an internal transfer between Binance wallets. But the transfer still rattled traders with the prospect of a sell-off, as it showed a large amount of Bitcoin being moved to an exchange.
Exchange token rallies usually herald a sell-off, though it is unclear whether such a scenario would occur.
