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A massive new Bitcoin whale has emerged with a single transfer of a staggering 3,073 BTC. Blockchain data reveals that the transfer occurred between two wallets with no prior major activity, suggesting the emergence of a new large holder, or whale.
Whale Alert reports that "3,073 BTC worth $297,533,192 transferred from unknown wallet to unknown new wallet."
The transaction has raised questions about whether this is the result of whale accumulation, an over-the-counter (OTC) deal or a whale consolidating holdings.
The identity of this new whale remains unknown, leading to various theories within the community. It might also be a mere wallet reshuffling for security purposes.
Tomiwabold OlajideIn another transaction reported by Whale Alert, "2,142 BTC worth $207,047,015 was transferred from unknown wallet to unknown new wallet," suggesting the emergence of a new Bitcoin large holder, or whale.
Bitcoin price action
Bitcoin steadied after a run to $100,000 and fell just short of the record mark. The digital asset sank as low as $95,780 on Sunday, after coming within $300 of reaching the six-figure mark on Friday. At the time of writing, Bitcoin had modestly rebounded to $98,421, up 0.61% in the previous 24 hours.
Traders had seized on the favorable crypto outlook to push Bitcoin to the verge of $100,000, a symbolic level that for crypto supporters repudiates skeptics, who see little intrinsic value in digital assets.
According to on-chain data, the battle for $100,000 still rages on. In a tweet, IntoTheBlock highlighted that there is growing support below the current BTC price level: "The battle for $100,000 BTC rages on. While 60,000 addresses acquired 22,740 BTC above the current price, the real highlight is the growing support below: 458,000 addresses have amassed a staggering 344,000 BTC. A strong foundation to fuel a move beyond $100,000."
On the macroeconomic front, the final PCE release is anticipated prior to the Fed’s December meeting, where investors will be searching for clues about the central bank's next policy move.
Godfrey Benjamin
Dan Burgin
Vladislav Sopov