Bitcoin rise increased whale movements: “Sent 730 BTC in panic”

Bitcoin exceeding 40 thousand dollars overnight and 42 thousand dollars today has seriously increased whale movements. While one whale sent 1000 BTC to Binance, another large account sent 730 BTC to Binance after the drop in the price of 42 thousand. Lookonchain interpreted this whale's movement as a "panic transfer".

While it is a matter of curiosity whether the bull season has come in cryptocurrencies and how much the prices will rise, whale movements do not go unnoticed by investors and researchers.

According to data from Lookonchain, a whale holding a large amount of Bitcoin sent 1000 BTC to the Binance exchange. At the time of the whale's transfer, Bitcoin was at $41,500.

“He made a panic transfer”

Bitcoin's sharp withdrawal after exceeding 42 thousand dollars also increased the movements of whales. The withdrawal of the largest cryptocurrency to 41,500 in a short time caused a whale to send 730 BTC to Binance. On-chain tracking platform Lookonchain commented on this transfer as "Panic transfer from a whale..."

This whale last withdrew 2200 BTC from Binance in November 2022, when Bitcoin was at 19 thousand dollars, and also in June (2023), when it was over 20 thousand dollars.

It has a profit of 48 million dollars

It is not known whether the whale sold the 730 BTC he sent to Binance, but his profit on the approximately 1500 BTC that continues to remain in the wallet is around 48 million dollars.