Bitcoin Whale Abruptly Moves Over $123,000,000 in BTC – Here’s Where the Crypto Is Going

A crypto-tracking platform says that one Bitcoin (BTC) whale is moving more than $123 million worth of crypto in a single transaction.

According to Whale Alert, an unknown wallet sent 5,444 BTC worth more than $105 million to a second unknown wallet, as well as 969.77 BTC worth more than $18.7 million to a third unknown wallet, on Tuesday.

The transaction reportedly cost only 0.0000621 BTC, which was worth $1.19 at the time it was processed.

Other large Bitcoin transactions this week include the crypto exchange FTX sending 1,082 BTC worth more than $21.8 million to an unknown wallet on Tuesday.

FTX also sent 1,108 BTC worth more than $22 million to a single unknown wallet later that day.

Additionally, another exchange, Coinbase, sent 1,096 Bitcoin worth more than $22 million to an unknown wallet on the same day.

Crypto analytics firm Santiment noted last week that Bitcoin exchange supply had reached a four-year low of 8.48%.

“As exchange supply decreases, it de-risks chances of a future sell-off.”

Santiment also noted last week that Bitcoin’s small to mid-sized addresses (holding 0.1 to 10 BTC) held 15.9% of the coin’s available supply, an all-time high level.

BTC is trading at $20,767 at time of writing. The top-ranked crypto asset by market cap is up more than 3% in the past 24 hours and more than 9% in the past week.

Featured Image: Shutterstock/thailerderden10