Prominent on-chain data aggregating platform Santiment spreads the word about a new BTC whale appearing in the crypto market. They have accumulated an astounding amount of the flagship cryptocurrency in merely one transaction.
Biggest BTC transfer in four weeks
As per a recent tweet by Santiment, more than eight hours ago, their analytics team spotted the largest BTC transaction that took place in the past 30 days. The address that received roughly 13,370 BTC is brand new, per their tweet, and the tokens were moved in a single transfer.
This amount of Bitcoin is the equivalent of a whopping $313.1 million. This was either a purchase or a whale moved part of their BTC riches to a new wallet.
After the transfer was made, the BTC price showed a drop of around 0.37%.
🐳 8 hours ago, the largest #Bitcoin transaction in 4 weeks took place. This brand new whale address went from nothing to suddenly holding ~13,369 $BTC (worth ~$313.1M) after a single transfer. Track this wallet here as prices fluctuate going forward. 👀 https://t.co/Vk7GTw4diT pic.twitter.com/G2IwLP0tpp
— Santiment (@santimentfeed) February 4, 2023
As reported by U.Today, by the start of January, whales who hold between 0.1 BTC and 100 BTC had accumulated a large amount of Bitcoin, adding around 9% of their holdings.
Santiment called that one of the most aggressive purchasing cycles in the history of crypto.
Bitcoin price action
The Bitcoin price dropped as the jobs report for January was released. It exceeded the expectations of economists, proving more than twice as strong as expected. Thus, in January, 517,000 new jobs were added versus 188,000 predicted by economists with the unemployment rate sitting now at 3.4% (a 50-year low) rather than 3.6%.
As the jobs market remains overheated, the flagship crypto responded by dropping back below the $24,000 level it had regained earlier this week.
Bitcoin is now trading at $23,330, according to data shared by CoinMarketCap, after falling from $23,617. It lost the $24,200 price mark on Thursday, Feb. 2.
Denys Serhiichuk
Tomiwabold Olajide
Gamza Khanzadaev