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Mysterious Bitcoin Whale Abruptly Moves Over $134,000,000 in BTC – Here’s Where the Crypto’s Headed

DATE POSTED:August 25, 2023

A mysterious Bitcoin (BTC) whale is suddenly shifting hundreds of millions of dollars worth of the king crypto out of a centralized crypto exchange platform.

New data from whale-surveying platform Whale Alert reveals that the deep-pocketed investor abruptly moved 5,140 BTC, or $134 million worth of the top crypto asset by market cap, from Dubai-based crypto exchange Bybit to an unknown wallet.

The move comes as data from prominent crypto analytics platform Santiment finds that the amount of BTC sitting in exchanges has reached its lowest point in six years.

Furthermore, the market intelligence firm finds that deep-pocketed Bitcoin investors are averaging 57,400 BTC transactions that exceed $100,000 in value per week.

“Just 5.8% of Bitcoin is currently sitting on exchanges, which is officially the lowest level crypto’s top market cap asset has seen since December 17, 2017. We are also continuing to see reasonable amounts of BTC whale transactions (57,400 per week).”

Source: Santiment/X

Other notable whale transactions on Whale Alert’s radar include:

Bitcoin is trading for $25,938 at time of writing, a fractional decrease during the last 24 hours.

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Featured Image: Shutterstock/Tithi Luadthong

The post Mysterious Bitcoin Whale Abruptly Moves Over $134,000,000 in BTC – Here’s Where the Crypto’s Headed appeared first on The Daily Hodl.