Whale Abruptly Moves Over $234,000,000 in Bitcoin As BTC Bounces From $40,000 – Here’s Where the Crypto Is Going

A whale moved more than $234 million worth of Bitcoin (BTC) in a single transaction this past weekend as the crypto king teetered at $40,000.

The transfer was initially spotted by the whale-monitoring bot Whale Alert.

Whale Alert reports that a wallet of unknown origin sent 5,500 BTC to another unknown wallet on Saturday. The giant transaction was processed for a fee of $98.50 worth of Bitcoin.

? ? ? ? ? ? ? ? ? ? 5,500 #BTC (234,121,426 USD) transferred from unknown wallet to unknown wallethttps://t.co/bvTjerLwyj

— Whale Alert (@whale_alert) December 16, 2023

The receiving wallet, which still holds all the BTC, is now the 307th-richest Bitcoin whale in the world, according to BitInfoCharts. The sending wallet, which now holds nothing, was ranked 290th prior to the transaction.

Bitcoin is trading at $43,095 at time of writing, up more than 6% from its 24-hour low of $40,512.

Other large BTC whale transactions tracked by Whale Alert in the past few days include:

• 678 BTC worth more than $28.14 million transferred from an unknown wallet to the crypto exchange Coinbase
• 1,784 BTC worth more than $73.26 million transferred from the crypto exchange Binance to an unknown wallet
• 2,295 BTC worth more than $95.81 million transferred from an unknown wallet to Coinbase
• 958 BTC worth nearly $40 million transferred from an unknown wallet to Coinbase
• 521 BTC worth more than $21.77 million transferred from the crypto exchange CoinBene to an unknown new wallet
• 529 BTC worth more than $22.57 million transferred from CoinBene to an unknown new wallet

Generated Image: DALLE3

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