Whale Abruptly Moves Over $234,000,000 in Bitcoin As BTC Bounces From $40,000 – Here’s Where the Crypto Is Going

A whale moved more than $234 million worth of Bitcoin (BTC) in a single transaction this past weekend as the crypto king teetered at $40,000.

The transfer was initially spotted by the whale-monitoring bot Whale Alert.

Whale Alert reports that a wallet of unknown origin sent 5,500 BTC to another unknown wallet on Saturday. The giant transaction was processed for a fee of $98.50 worth of Bitcoin.

? ? ? ? ? ? ? ? ? ? 5,500 #BTC (234,121,426 USD) transferred from unknown wallet to unknown wallethttps://t.co/bvTjerLwyj

— Whale Alert (@whale_alert) December 16, 2023

The receiving wallet, which still holds all the BTC, is now the 307th-richest Bitcoin whale in the world, according to BitInfoCharts. The sending wallet, which now holds nothing, was ranked 290th prior to the transaction.

Bitcoin is trading at $43,095 at time of writing, up more than 6% from its 24-hour low of $40,512.

Other large BTC whale transactions tracked by Whale Alert in the past few days include:

• 678 BTC worth more than $28.14 million transferred from an unknown wallet to the crypto exchange Coinbase
• 1,784 BTC worth more than $73.26 million transferred from the crypto exchange Binance to an unknown wallet
• 2,295 BTC worth more than $95.81 million transferred from an unknown wallet to Coinbase
• 958 BTC worth nearly $40 million transferred from an unknown wallet to Coinbase
• 521 BTC worth more than $21.77 million transferred from the crypto exchange CoinBene to an unknown new wallet
• 529 BTC worth more than $22.57 million transferred from CoinBene to an unknown new wallet

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Whale Abruptly Moves Over $234,000,000 in Bitcoin As BTC Bounces From $40,000 – Here’s Where the Crypto Is Going appeared first on The Daily Hodl.