U.Today – Something unusual happened last weekend with (BTC) trading on one of the world's largest crypto exchanges. Whale Alert monitored a series of large-scale transfers that showed how billions of dollars worth of Bitcoin were moved between wallets.
Among these transfers, one in particular caught our attention: the $50 million transfer. This involved moving 500 BTC from Binance to an unknown wallet, followed immediately by a nearly identical return transaction of 499 BTC (valued at $50.9 million) being sent back to Binance.
There was more. Today, an even larger transfer took place, with millions of dollars worth of Bitcoin now in the hands of people. Many of the transactions involved thousands of BTC being exchanged between anonymous wallets.
Some of the numbers were quite large, including 2,600 BTC worth about $265 million, 3,000 BTC worth $305.8 million, and 4,998 BTC worth more than $500 million, which were moved between various unknown addresses. I was there.
In one particularly eye-catching transaction, 1,000 BTC ($102.9 million) was moved from Bybit to an unknown wallet, contributing to the overall rally. In total, large amounts of Bitcoin were traded, many of which bounced between wallets with no specific owners or clear intentions.
A big week for Bitcoin
The timing of these transfers is noteworthy. This occurred while the price of Bitcoin rose more than 1.5%, reaching a high of $103,000. These large-scale moves are often accompanied by changes in market sentiment and strategic decisions by institutional investors.
What makes this activity so unusual is its scale and anonymity. Trading on a typically quiet Sunday could suggest some strategic planning is afoot as the market prepares for next week.
This article was originally published on U.Today
