Whales Carried Their Bitcoins to Central Exchanges!

Giant crypto whales to centralized trading platforms on the last business day of the week Bitcoin (BTC) transfers were noted. According to reports from different sources, two different crypto whales moved large amounts of BTC to Coinbase and Binance exchanges.

Wu Blockchain, one of the phenomenal accounts of the crypto community, shared a whale’s in the morning today. coinbase He shared that he moved 10,000 BTC (market value $267 million) to his exchange.

Today, a address transferred 10,000 BTC (about $267 million) to Coinbase. On May 12, this address has transferred 10,000 BTC to Coinbase, when the BTC price was $27,620. H/T @EmberCN https://t.co/i6x2FrVcKL

— Wu Blockchain (@WuBlockchain) May 19, 2023

Comment below the post cryptocurrency investors speculated about who might have made the transfer. Some crypto-lovers pointed to the US government, while others stated that it could be a payment transaction.

Did Binance Whale Cause BTC’s Drop?

On-chain data tracker Lookonchain recently announced that a BTC whale to Binance He found that he was carrying 1,750 Bitcoins.

After the transfer, Lookonchain shared BTC He stressed that the price fell 3% within hours. Although we cannot make a definitive judgment, the big investor may have sold the Bitcoins he carried to Binance.

Another cryptocurrency analyst, Ali Martinez, drew attention to the movement of miners.

#Bitcoin Miner Reserves dropped by more than 2,000 #BTC over the last 24 hours, which suggests miners have sold around $54 million worth of $BTC. pic.twitter.com/wLPYJY7zU2

— Ali (@ali_charts) May 18, 2023

According to Martinez’s Twitter post, Bitcoin miners have sold 2,000 Bitcoins in the last 24 hours.

Due to the uncertainty in the macro economy these days, we have not been able to see the expected movements in Bitcoin. The market is expected to move sideways, especially until the FED meeting in June.