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11,358 Bitcoin (BTC) Moved in One Hour: What’s Going On Here? — TradingView News
Whale Alert, a popular blockchain tracker that tracks large cryptocurrency transactions, spotted several consecutive Bitcoin transfers today. These transactions touched a whopping US$1 billion in just one hour.
This happened as Bitcoin rebounded after Tuesday’s 4% drop.
11,358 Bitcoin in motion
The aforementioned blockchain tracker detected three consecutive transactions, which transferred 11,358 BTC in total, the equivalent of over $743 million.
These transactions brought in 6,499; 2,359 and 2,500 Bitcoins. The first transfer alone was worth almost half a billion US dollars.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 6,499 #BTC (425,791,645 USD) transferred from unknown wallet to unknown wallethttps://t.co/xIKEj9bCFw— Whale Alert (@whale_alert) June 19, 2024
These gigantic transactions took place between unknown blockchain addresses. The amounts of 6,499 BTC and 2,359 BTC were transferred from the same wallet, -vtv93w.
Bitcoin recovers from the recent decline on the fourth day of Bitcoin ETF outflows
On Tuesday, the world’s flagship cryptocurrency Bitcoin took a toll on the cryptocurrency market by plummeting 4.05% as the price fell to the $64,360 zone.
Since then, in the last 24 hours, BTC has seen a recovery, trying to surpass $65,590. However, it was rejected by this resistance level and is currently trading at $65,148.
🚨 Net inflow #ETF $BTC June 18, 2024: -$152 million!
• No US Bitcoin EFTs had inflows yesterday ⚠️.
• #Grayscale (GBTC) recorded an outflow of $62.3 million, preceded only by #Fidelity (FBTC) with $83 million.
• Net collection remains negative for 4 consecutive days.
Follow @spotonchain… pic.twitter.com/0DWBtx0Dd4— Spot On Chain (@spotonchain) June 19, 2024
Among the multiple factors that caused Bitcoin to collapse once again was the fact that spot Bitcoin ETFs experienced zero inflows on June 18th. Grayscale Bitcoin Trust saw a notable outflow of $62.3 million, which was only surpassed by Fidelity’s ETF which saw $83 million in BTC. withdrawn from it.
It was the fourth consecutive day of outflows, according to analytics platform @spotonchain on X.
Samson Mow expects Bitcoin to reach $1.0 million
Earlier this week, noted Bitcoiner Samson Mow doubled down on his multiple $1 million Bitcoin predictions made earlier this year.
Jan3 CEO Mow tweeted that he is confident the leading digital currency will reach $1 million. The question, however, is when and how quickly. In his previous tweets, Mow cited daily inflows into Bitcoin spot ETFs and the Bitcoin halving in April as key factors for BTC to reach this jaw-dropping price level in the future.
However, recently, he also tweeted that the absence of “Godzilla candles” for BTC means that the chances of seeing an “Omega candle” are increasing dramatically. He even expects Bitcoin to suddenly go from $70,000 to $200,000 overnight.