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Crypto whale watchers are tracking the movement of nearly half a billion dollars in Bitcoin.
The trader in question sent 59,294 BTC from one unknown wallet to another in an eye-popping transaction worth $464,452,994. So far, it appears that the Bitcoin has not been sent to an exchange, indicating the owner does not plan to sell the massive trove of BTC.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 59,294 #BTC (464,452,994 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) June 6, 2019
This week’s initial and sudden drop in the price of Bitcoin from $8,500 to around $7,900 is being blamed on a separate Bitcoin whale.
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The whale in question moved 25,160 BTC onto the crypto exchange Coinbase right before the drop, and moved the same amount of crypto to two unknown wallets right after the price crashed.
Right now, Bitcoin is down 2.62% at $7,584 according to COIN360. Ethereum is down 3.34% at $238.08 and XRP is up 2.54% at $0.4107.
Technical analysts are tracking Bitcoin’s volatility and the path ahead for altcoins as most of the market remains in the red.
Bitcoin
FXStreet – BTC/USD pair seems paralyzed above $7,800
NewsBTC – $7,700 support under threat in falling wedge
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Ethereum
CoinCodex – Ether trying to hold onto a slight rebound
NewsBTC – ETH price recovery underway but bulls likely to struggle
XRP, Bitcoin Cash, Litecoin
Blockonomi – Rebound Could Present Sell Opportunities
NewsBTC – XRP, BCH and LTC need to move back through early highs to avoid pullback
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