New Bitcoin whale emerges with 1,600 BTC transfer
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Here's When XRP Downtrend Can End, Tron Shows 36% Rally Everyone Is Missing, Solana Price Drops by 11%, But Bullish Signal Is HereLarge transfers, particularly between wallets, may be moved to private or cold storage, which may indicate a long-term holding plan, reducing selling pressure and potentially supporting price stability. The move could also be an OTC transaction, which occurs outside of an exchange.
While the intent behind these recent transfers remains unknown, the activity could signal preparations for large future moves on the crypto markets. The market is watching closely for further hints in the coming days.As traders wait for clarity on the crypto markets, Bitcoin has been seeing a notable decline in the amount of nonempty wallets.
At the time of writing, BTC was up 0.12% in the last 24 hours to $68,801. On the contrary, U.S. exchange-traded funds investing in Bitcoin experienced their largest daily net outflow to date. Bloomberg reported that the group of 12 Bitcoin ETFs, including BlackRock and Fidelity Investments, lost $579.5 million on Monday.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst.
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