• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
Bitcoin

Bitcoin Whales Buy $3.12 Billion In BTC In Last 24 Hours As Crypto Braced For Fed Hike

Christian Encila by Christian Encila
1 year ago
in Bitcoin
0

Bitcoin immediately felt the impact of Wednesday’s Federal Reserve interest rate increase and failed to gain upward traction. Other macroeconomic variables also contributed to the decline of the world’s leading cryptocurrencies, including Ethereum and other significant cryptocurrencies.

Bitcoin lost its grip on the critical $19,000 handle following the U.S. central bank’s announcement. As of this writing, BTC is trading at $18,950, down 5.5% in the last seven days, data from Coingecko show.

As this situation evolved, a whale tracker observed many BTC accumulation transactions, indicating that whales are buying the dip.

Related Reading: Fed Rate Hike: Cryptos Hammered As Central Bank Pumps Interest Rates By 0.75 Points

Bitcoin Whales Quick To The Draw, Buy The Dip

In the past 24 hours, more than 166,000 Bitcoins have been transferred from cryptocurrency exchanges to unknown wallets, according to Whale Alert. The total amount of all registered transactions exceeds $3.12 billion.

A cryptocurrency wallet containing $40,754,647 in BTC has just sent the funds to Coinbase, while a Bitcoin whale moved $26,447,771 worth of Bitcoin away from the exchange.

The majority of BTC transfer transactions reported include more than 9,500 Bitcoin. However, the majority of whale trades occur on the Huobi cryptocurrency exchange.

A Bitcoin whale, often known as a “crypto whale” or just a “whale,” is a word used in the cryptocurrency community to refer to persons or organizations that hold huge quantities of cryptocurrency.

These “whales” are investors who own at least $10 million in Bitcoin and who send cryptocurrency from exchanges when they intend to hold their investments for a prolonged period of time.

Keeping huge sums of money on an exchange increases the danger of loss, as exchange wallets are the most desired target for cryptocurrency thieves.

Related Reading: Microstrategy Bitcoin Bet Loss Grows To $1.5 Billion, Stocks Down After $6 Million BTC Buy

Massive Crypto Transfers Are Often Bearish Signals

Over the previous several hours, more than 43,000 BTC have reportedly been transferred from the Huobi wallet on Binance, according to a report by Wu Blockchain. The overall outflow has been estimated to be approximately $820 million.

The cryptocurrency exchange Huobi has replied to these mega-transactions. It was suggested that the regular withdrawal behavior of users caused the internal movement of funds.

Huobi also reported another whale Alert transaction involving the transfer of 99,999,000,000 USDT to an unidentified wallet. designated these as internal text. The withdrawal operation of the user was responsible for initiating the text.

Transfers of cryptocurrency from wallets to exchanges are often a negative sign. When whales move crypto to an exchange, they are often in search of liquidity.

It seems unlikely that the investor intends to store their crypto on Coinbase, as the security concerns associated with storing large quantities of crypto on an exchange are greater than those associated with storing these assets in a hardware wallet.

It could be that that this Bitcoin whale intends to sell the crypto or trade it for alternative crypto assets.

BTC total market cap at $365 billion on the daily chart | Source: TradingView.com

Featured image from CoinCentral, Chart: TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Christian Encila

Christian Encila

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Related Posts

Bitcoin ETF

Bitcoin ETF: Catalyst Or Controversy In The Crypto Universe?

59 mins ago
Polygon

Polygon Reigns Supreme With 76% Inscription Activity On EVM Chains

15 hours ago
Terra Classic

Terra Classic Price Climbs 77% Amid Do Kwon Extradition Drama

17 hours ago
Bitcoin supply

93% Of All Bitcoin Has Now Been Mined, How Much BTC Is Left?

19 hours ago
IBM

Big Blue’s Big Move: IBM Reveals Cutting-Edge Crypto Cold Storage Tech

2 days ago
Bitcoin

Swiss Pioneers: Lugano City Breaks New Ground, Accepts Bitcoin And USDT For Taxes

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • 7 DeFi tokens to make you rich in 2024

    11 hours ago
  • Retik Finance (RETIK) will Replace Polygon (MATIC) in 2024

    11 hours ago
  • This New Casino Token Offers Daily Passive Rewards Up to...

    11 hours ago
  • Investors Pile Onto eTukTuk (TUK) Presale, Under A Week...

    12 hours ago
  • 3 Days Left to Join the Chimpzee Presale: Last Chance to...

    12 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.