$800 Million Worth of Bitcoin Mysteriously Moved as BTC Soars, Here's What's Happening
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Prominent cryptocurrency tracker Whale Alert, which tracks down large crypto transactions and shares the details on its website and X account, has revealed half a dozen large transactions, which carried a cumulative $800 million worth of Bitcoin.
Among those transfers were several ones that took a large amount of BTC to new wallets, while Bitcoin demonstrated a 2.43% increase.
Enormous Bitcoin chunk on move
Whale Alert reported that 7,667 Bitcoins, valued at close to $800 million in fiat, have been shoveled between anonymous blockchain addresses. That amount of crypto was transferred in six large BTC transactions, each carrying between 1,000 and 2,000 BTC.
Three Bitcoin chunks — 1,000 BTC; 1,029 BTC and 1,531 BTC — were moved to three new wallets. This means that either three new crypto whales acquired BTC via OTC purchases or existing whales reshuffled their holdings by moving part of their Bitcoin to new addresses.
These massive BTC transfers were spotted as the world’s largest cryptocurrency Bitcoin staged a more than 2% increase today, regaining the $105,700 level after a fall.
Yuri MolchanBitcoin market performance
On Thursday, the world’s bellwether cryptocurrency printed a surge of 5.21%, topping the $106,800 level briefly on the news that U.S. President Donald Trump signed an executive order to ensure the creation of a strategic Bitcoin plan for the country.
A pro-crypto senator, Cynthia Lummis, who suggested making a strategic BTC reserve for the U.S. last year, tweeted: “Big things are coming.” The plan she suggested assumed that the U.S. government will be purchasing 200,000 BTC annually over the next five years to buy one million BTC in total for the strategic Bitcoin reserve. As the BTC price soared, renowned Bitcoiner Michael Saylor, MicroStrategy's executive chairman, tweeted: “We are going to Mars,” clearly hinting at Trump and his ally Elon Musk, who is striving to send spaceships to Mars to make a permanent and self-sustainable human base on the red planet. Both people are largely pro-crypto.
However, that price surge was followed by a decline back to $103,000. At writing time, BTC is changing hands at the $105,150 mark.
Four days ago, Bitcoin reached a new all-time high, hitting the $109,114 price level on Trump’s inauguration day.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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