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Major cryptocurrency tracker Whale Alert has reported that approximately 18 hours ago, a massive Bitcoin lump of 10,000 BTC was shoveled into a brand new wallet with no registered owner.
Meanwhile, within the last 24 hours, the flagship digital currency in the market Bitcoin has managed to recover more than 4% of its recent losses and is now back above $26,500.
New BTC whale emerges, holding $261 million in crypto
According to Whale Alert, slightly less than 18 hours ago, a total of 10,000 BTC worth $261,322,181 was transferred from one anonymous wallet to another. The tracker stressed that the receiving wallet was new, i.e., set up just recently.
This could indicate either a purchase or a whale setting aside some of his BTC stash to redistribute the crypto holdings.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 10,205 #BTC (261,322,181 USD) transferred from unknown wallet to unknown new wallethttps://t.co/4q5sM5gcy6
— Whale Alert (@whale_alert) June 16, 2023
A slightly smaller amount of BTC on the move was spotted a few hours later by the same tracker as 3,912 BTC (the equivalent of $101,005,888) was transacted from one anonymous address to another.
Bitcoin price rebounds after large decline
At the end of last week, the crypto market was shaken by the news of the SEC filing lawsuits against two crypto giants, Coinbase and Binance, accusing them of breaking U.S. securities laws.
Bitcoin reacted immediately, going down 4.45%, hitting $25,502. Later on during the week, on June 14, BTC plunged another 4% after the CPI report (though it came out with better figures than analysts had expected). Now, the leading crypto has risen by 4.13% overnight in light of the news that the largest global wealth manager BlackRock submitted a filing to launch a Bitcoin ETF with Coinbase acting as a custodian.
The whole cryptocurrency market began reviving as well, following suit of Bitcoin.
Alex Dovbnya
