Some of the largest holders of Bitcoin in the world moved billions of dollars worth of BTC in a flurry shortly before the flagship cryptocurrency broke below the $20,000 mark.
On-chain crypto tracking service Whale Alert flagged a series of remarkably large BTC transactions early this weekend.
In particular, WhaleAlert spotted five transactions all done within a minute of each other worth over $205 million. Each transaction saw exactly 9,873 BTC move from crypto exchange Coinbase to an unknown wallet, according to WhaleAlert.
- 9,873 BTC worth $205.35 million transferred from Coinbase to unknown wallet
- 9,873 BTC worth $205.35 million transferred from Coinbase to unknown wallet
- 9,873 BTC worth $205.35 million transferred from Coinbase to unknown wallet
- 9,873 BTC worth $205.35 million transferred from Coinbase to unknown wallet
- 9,873 BTC worth $205.35 million transferred from Coinbase to unknown wallet
Within hours, Whale Alert spotted six large BTC transactions with a combined value of nearly $1 billion. Three transactions moved Bitcoin from wallets of unknown origins to crypto exchanges. One transaction shifted BTC from a crypto custody firm to an unknown wallet while another transaction relocated Bitcoin from a crypto exchange to a custodial company. Another transaction moved BTC from an exchange to a wallet of unknown origins.
- 11,444 BTC worth $235.21 million transferred from Gemini to Xapo
- 5,000 BTC worth $105.16 million transferred from unknown wallet to Gemini
- 6,500 BTC worth $137.03 million transferred from Gemini to unknown wallet
- 4,149 BTC worth $85.34 million transferred from unknown wallet to Gemini
- 10,000 BTC worth $205.70 million transferred from Xapo to unknown wallet
- 10,000 BTC worth $205.04 million transferred from unknown wallet to Coinbase
At time of writing, Bitcoin has lost the $20,000 level and is currently trading at $18,526.
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