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On-chain data has spotted a flurry of large Bitcoin transfers within the last 24 hours. Amid this, a massive transfer of 999 BTC, valued at nearly $106,048,784, has been spotted. The peculiarity of this transaction is that the BTC stash was moved to a freshly created wallet, suggesting the emergence of a new Bitcoin whale.
According to Whale Alert, "999 BTC worth $106,048,784 was transferred from unknown wallet to unknown new wallet." This transaction is part of a recent rise in large Bitcoin transfers seen in the last 24 hours as Bitcoin sets new all-time highs.
Whale Alert reports several Bitcoin transactions in the last 24 hours, the most recent as of writing time being two 1000 BTC transactions each, worth nearly $107 million, between unknown wallets and then the Kraken crypto exchange.
A recent analysis by SpotOnchain appears to shed light on the flurry of BTC transactions seen within the last 24 hours as the Bitcoin rally hit all-time highs.
Tomiwabold OlajideAccording to SpotOnchain, two institutions moved a total of 23,664 BTC worth $2.51 billion after Bitcoin reached a new ATH of around $108,000. This was, however, done in tranches.
SpotOnchain outlines these transfers: Mt. Gox transferred 1,620 BTC worth $172.5 million in recent hours. This includes 1,320 BTC to an internal wallet and 300 BTC to B2C2 Group. Since Nov. 1, Mt. Gox has moved 7,500 BTC worth nearly $650 million to B2C2, likely for creditor payouts. Mt. Gox currently holds 37,404 BTC worth $4.02 billion.
Bitcoin mining company Marathon Digital also moved 22,044 BTC worth $2.34 billion in recent hours. These funds were spread across 40 new, unidentified wallets and remain there. Marathon's current holdings, according to SpotOnchain, are now 14,364 BTC worth $1.54 billion.
Bitcoin hits new ATH
Bitcoin soared to a fresh all-time high as investors anticipated a Federal Reserve interest rate drop later this week.
According to CoinMarketCap, the price of the largest cryptocurrency by market capitalization increased by 2.59% to $106,564 at the time of writing. During Monday's trading session, it reached a new high of $107,857.
Investors expect the Fed to decrease interest rates this week during its two-day policy meeting, which ends Wednesday.
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