đš Crypto Whales in Action: $2 Billion in Bitcoin on the Move! đđŒ
In a jaw-dropping move, a colossal $2 billion worth of Bitcoin (
$BTC ) has stirred to life, shifting across multiple wallet addresses tied to a single entity. This massive sum, dormant since 2019 and last active in 2013, is making waves during the ongoing correction in Bitcoin's price.
đ Key Highlights: Unveiling the Bitcoin Shuffle
Analyzing the maneuver, blockchain analytics firm Arkham Intelligence reveals that these funds, historically moved at specific times and dates, have recently been consolidated from 49 different addresses to just five.
Each of these five addresses now holds between 8,000 BTC and 12,000 BTC, equivalent to a staggering $380 million to $480 million.
đ Security in Cold Storage: A Strategic Move?
If these funds indeed belong to a single entity, the strategic consolidation could be aimed at fortifying security by spreading assets across addresses and keeping them in cold storage.
đĄ Market Dynamics: A Chess Game in Play
This substantial Bitcoin shift unfolds against the backdrop of a market correction, following a remarkable 160% surge in the past year. The anticipation of a US spot Bitcoin exchange-traded fund (ETF) approval has been a driving force, attracting both institutional and retail investors.
đ Bitcoin Miner Reserves and Mega Transactions: Connecting the Dots
Bitcoin miner reserves hit their lowest since July 2021, standing at 1.83 million BTC, valued at $78 billion.
Notably, this significant movement occurs shortly after witnessing the largest Bitcoin transaction of the yearâa whale moving a staggering $665 million worth of the cryptocurrency in a single transaction.
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