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Bitcoin whale sends 3,000 BTC to Coinbase

An unknown party today moved Bitcoin worth 207 million U.S. dollars to Coinbase.

By Mike Hesp
• 2 min read
Bitcoin whale sends 3,000 BTC to Coinbase

An unknown party today moved Bitcoin worth 207 million U.S. dollars to Coinbase. Transfers of large crypto positions to exchanges are usually a precursor to an imminent sell-off. So it’s plausible the 3,000 Bitcoin will be sold.

The movement of BTC from very old wallets regularly piques the crypto community’s curiosity. There’s speculation that some of these wallets may be connected to Satoshi himself.

With the recent price gains, there has also been an uptick in activity among large BTC holders. The number of investors holding more than 1,000 BTC, also known as whales, is at the highest level since January 2021. According to data from Glassnode, there are nearly 1,700 such investors at the time of writing.

Market watchers are keeping a close eye on these moves because they often involve seasoned insiders or prominent investors.

Meanwhile, the broader crypto market got off to a solid start to the new week. For the development of Bitcoin and other cryptocurrencies, the new core inflation figures and U.S. labor market data are likely to matter in the coming days.

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