Is This One of the Reasons for Today’s Big Decline in Bitcoin? Here’s the 535 Million Dollar Worth Transaction

Data provided by cryptocurrency analysis company Arkham reveals that a wallet that has been dormant for a long time has been carrying a large amount of Bitcoin.

According to data, a cryptocurrency wallet that has been dormant for 5.5 years without any movement moved 8,000 Bitcoins, which corresponds to approximately $ 535 million, at the time of writing.

The data shows that the BTC assets in question were distributed across a number of different cryptocurrency wallets, four of which belonged to Binance deposit addresses. The amount transferred to Binance was recorded as 1,416 BTC.

The giant whale wallet paid approximately $108 in fees for the transfer of the $535 million BTC in question.

The overall cryptocurrency market witnessed an unexpected decline today. Bitcoin, the world’s largest cryptocurrency, has decreased by approximately 4.57% in the last 24 hours. With the decline, the BTC price fell below $ 67,000 and is trading at $ 66,588 at the time of writing.

The general reason for the decrease is thought to be that both CPI and interest rate decision data will come from the USA tomorrow.

*This is not investment advice.

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