$863.6 Mln in Bitcoin Sent Between Anonymous Wallets as BTC Price Tanks Below $9,000

Thu, 02/27/2020 - 08:43
Yuri Molchan
Whale Alert detects several mammoth-sized Bitcoin transactions. Meanwhile, the flagship cryptocurrency is trading below the $9,000 level
Cover image via www.shutterstock.com

Bitcoin whales seem to be stirring now that the BTC price has plummeted below the $9,000 threshold as Whale Alert spots around 863.6 mln USD worth of Bitcoin transferred between anonymous wallets.

Besides, these transactions involved two major cryptocurrency exchanges.

Binance, Bittrex and unregistered BTC wallets

The Whale Alert Twitter bot created for tracking large blockchain transactions on various platforms has again alerted its followers, giving them data on giant transfers of BTC.

A short while ago, Whale Alert detected two consecutive gargantuan Bitcoin transfers – 47,452 BTC each. That totals $828,272,572.

The transactions were conducted from the Bittrex exchange to a wallet with an unregistered owner and then back to Bittrex. Whale Alert commented on the last BTC transfer, saying it was a change of transaction. The anonymous wallet in both transfers remains the same.

Prior to that, 2,000 BTC ($17,654,162) was sent from Binance to an anonymous wallet. Later on, 2,050 BTC ($18,151,403) was moved between two Binance wallets.

Image via Twitter

Bitcoin (BTC) Trader Who Got 2020 Right Expects 'Wild Price Action' Due to Halving

Bitcoin price tanks below $9,000

On February 26, the major cryptocurrency plummeted from $9,249 per BTC to below the $9,000 level, as per data from CoinMarketCap.

At the time of writing, Bitcoin is exchanging hands at $8,796.

Image via CoinMarketCap

Crypto trader @FeraSY1 believes that before BTC can regain its losses in the $10,000 area and show further price growth, a 4H bullish divergence needs to form on the charts.

So far, he says, “Daily Candle is shaping nice reversal but 4H is NOT yet”.

Image via Twitter

Bitcoin educator and trader Carl Eric Martin reckons that BTC has plunged as it is likely to fill the CME gap at the $8,500 level.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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