Bitcoin Whales Reshuffle 14.5K BTC As Price Slips Below $42K, What’s Next In 2024?

Bitcoin, the world’s first cryptocurrency curated in 2009, once again garnered noteworthy attention among crypto market enthusiasts globally as it recently recorded significant whale transfers to a CEX. Notably, according to the data surfacing over the crypto horizon, a whopping 14.5K BTC was shifted between unknown wallets and Coinbase, a San Francisco-based CEX.

Intriguingly, the whale activity orbiting Bitcoin appears to have promptly gained substantial traction across the broader crypto market on Saturday as it emerged amid a price drop noted by the token. Moreover, a prominent crypto analyst further spotlighted Bitcoin’s current market dynamics, propelling bullish inferences for the token.

Bitcoin Whale Transfers: In-Depth Report

According to the blockchain tracking platform Whale Alert, a whopping 14.5K BTC was shifted to and fro from Coinbase, an eminent CEX. Furthermore, as per the data, 8,936 BTC was transferred via unknown wallets to Coinbase, whereas 5,564 BTC was shifted from Coinbase to unknown wallets.

Concerning the data, the transfers shifting BTC to Coinbase occurred in a series of four transactions. The first transaction that piqued market interest globally transferred 3,144 BTC to Coinbase via an unknown wallet address 1J2rZGuvnb…kHHUyMA3r6. Moreover, the second transaction showcased 3,143 BTC shifted to the same CEX by address 1EmtKQksts…9WLmnbNz5y.

Meanwhile, the third transaction showcased 500 BTC transferred to Coinbase by two wallets collectively. Lastly, the fourth transaction transferred 2149 BTC to Coinbase via wallet address 1PWQwQpPkA…SMAgdaEPzW.

On the other hand, the shifting of 5,564 BTC from Coinbase to unknown wallets also occurred in four transactions. The first transaction showcased the shifting of 1,335 BTC to the address 1EyuZyu87o…PmJX5XECRb. Moreover, the second transfer portrayed the moving of 1404 BTC from Coinbase to another address 19j41wwCHt…KPNyxqmTxN.

Simultaneously, the third whale transfer portrayed the shifting of 1415 BTC to the address 1EyuZyu87o…PmJX5XECRb, accompanied by the last transaction that moved 1410 BTC to the address 19j41wwCHt…KPNyxqmTxN again.

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Bitcoin Price Dips

As of writing, the Bitcoin price chart illustrated a downward momentum, dropping 2.05% over the past 24 hours, reaching $41,652.53. Moreover, this downward trajectory was further accompanied by a weekly plunge of 4.55%.

However, Muro Crypto, a prominent crypto analyst, shared market sentiments contrary to today’s fall. Muro highlighted Bitcoin’s current close, proclaiming that the community couldn’t have asked for a more bullish H4 close. He further stresses how he remains bullish on the token by saying, “couldn’t be more confident now,” fueling global optimism for the token.

Also Read: Tether And USDC To Face The Heat After Hong Kong’s Strict Stablecoin Regulation

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