Whale Alert, a popular cryptocurrency tracking service that publishes data on large crypto transactions, has reported that slightly over 23 hours ago, an anonymous wallet owner sent 9,800 Bitcoins to the Coinbase exchange.
This is the equivalent of $428,608,220 at the recent exchange rate.
Whale moves BTC to sell at a loss
According to BitInfoCharts, this wallet acquired 10,000 Bitcoins on April 1. Back then, BTC was trading at $44.891. Now, as the price rose to a $47,476 high on April 3 and has lost 10.46 percent since then, this whale has sold BTC at a loss. The wallet contains zero coins now.
At the time of writing, the global leading cryptocurrency is changing hands at $42,489.
Whale Alert data also shows that on April 8, someone moved 4,001 BTC and 1,660 BTC from Coinbase to unknown wallets.
Bitcoin price action
On April 7, U.Today covered that after the Fed meeting where a possible interest rate hike by 50 basis points was discussed, the flagship cryptocurrency plunged 5 percent, dropping from $45,339 to $43,190.
The Nasdaq Index also lost 4.5 percent within two days, and the Bitcoin price drop sent altcoins into the red as well. As they began dropping, Santiment noticed that traders began moving funds back in Bitcoin.