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11,358 Bitcoin (BTC) Moved in One Hour: What’s Going On Here?
Yuri Molchan
A huge amount of Bitcoin changed hands in just an hour as anonymous whale activity suddenly increased
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Whale Alert, a popular blockchain tracker that tracks large cryptocurrency transactions, has spotted several in a row Bitcoin transfers before 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.
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
Tuesday, the world flagship cryptocurrency, Bitcoinsent ripples through the cryptocurrency market as it plummeted 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.
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 withdrawn from it.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.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and cryptocurrencies since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects of it. He has written for several crypto media. His articles have been cited by cryptocurrency influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.