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Whales Just Shifted $333M Worth of 7K Bitcoin (BTC)

  • Whales just shifted 7K Bitcoin worth of $333M from one wallet to another
  • The bearish trend of BTC continued due to many other whale actions
  • The 215th largest Bitcoin holder sold $400 million worth of 8,000 Bitcoin

According to blockchain tracker Whale Alert, an anonymous whale just moved $333 million worth of 7,000 Bitcoin.

The whale made the transaction from an unknown wallet to another unknown wallet at 01:53 UTC. In addition, the whale was the 241st largest holder of Bitcoin before moving the BTC. Even more, the reason for the whale’s actions since his identity remains unknown.

Moreover, other rumors of whale moves include transfers among exchanges, massive OTC trades, and movement of cryptocurrency to cold storage by institutions. More so, this information remains a rumor until anyone disclose the whale’s identity, which is still a secret right now.

Bitcoin’s Bearish Trend Continues

The bearish trend of Bitcoin continued unabated due to many other whale actions during the week. For instance, Bitcoin surged to a peak of $58,330 this past Sunday and gradually showed a bullish trend.

According to CoinGecko, the BTC price is $44,046, at the time of writing.

BTC/USDT Bearish Trend Price Chart (Source: TradingView)

On Thursday, the 215th largest Bitcoin holder sold $400 million worth of 8,000 Bitcoin to Coinbase, the crypto exchange leader.

However, according to Bitinfo charts, the wallet owner that received the sold Bitcoin is BetVIP, not Coinbase.

There is data that BetVip.com left business six years back after just one year of operations. At that point, it was the only Bitcoin-based sportsbook, and Curacao issued its licensing operations. Moreover, its reasons for going out of business were unsustainable revenue and a prohibitive legal system.

Likewise, in November 2020, the Whale Alert made a series of tweets mentioning whales sold $532 million worth of BTC right after hitting the $19,000 price level.

At the moment, all eyes are on Bitcoin and on whether it will surpass $60,000. Also, other altcoins are having their own respective bull runs, especially Cardano (ADA) and Binance (BNB).

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Alyssa Wiselin

Crypto trading has enticed Alyssa Wiselin to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.

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