Grayscale, one of the world’s largest digital asset managers, transferred $385 million worth of Bitcoin (BTC) to Coinbase, causing a sharp drop in price.
An unexpected Bitcoin transfer came from Grayscale. According to on-chain data, the company Tuesday, January 16 at 17.30 CEST to the US cryptocurrency exchange Coinbase in $385 million worth 9,000 BTC sent. Grayscale did not make an official statement about the transfer.
Market analysts interpreted these transactions as pre-sale preparations. Grayscale Bitcoin Trust (GBTC) The company that converted its fund to spot ETF in the first days of the launch to serious sales had hosted.
After this large amount of transfer, the price of Bitcoin decreased. According to CoinGecko data, in a short time due to the news flow %2 Bitcoin losing value, $42,920 from level for $42,000 decreased by .
The company last January 12 Acting on the day, Coinbase’s dedicated section for institutional investors 4 thousand BTC worth $183 million to Coinbase Prime he had sent. After this transfer, there was a significant decrease in the price of Bitcoin.