Bitcoin Forum

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Crypto whale watchers are tracking a pair of huge Bitcoin transactions that moved a total of 20,378 BTC worth about $102.5 million.

Both transactions happened between unknown wallets and do not appear to be traders gearing up to sell.

    9,939 BTC worth $50.0 million transferred from unknown wallet to unknown wallet
    10,439 BTC worth $52.5 million transferred from unknown wallet to unknown wallet

The movements are part of a larger Bitcoin whale migration happening as the markets move into the red.

In the last 24 hours, whales moved a total of 42,616 BTC worth about $215 million, at the time of writing. The vast majority of the BTC was moved off of crypto exchanges to unknown wallets, or from one crypto exchange to another.

Right now, the crypto market is a sea of red. Bitcoin is down 4.86% at $5,036. Ethereum is down 8.61% at $164.77, and XRP is down 8.13% at $0.3285.

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Technical analysts say the market downturn is putting projections of a near-term BTC price rise to $5,800 on ice. According to CoinDesk analyst Daniel Paomer, the drop may have “thrown a spanner into a bullish market setup that had looked likely to propel prices to highs not seen since late last year.”


Reference: https://dailyhodl.com/2019/04/11/bitcoin-whales-move-42616-btc-as-leading-crypto-tests-5000-btc-ethereum-xrp-litecoin-forecast/

That's a lot of bitcoin, real whales found.

So this move triggered the market to put bloods on the streets again. Soon, we wll find out on who are these whales that bought or transferred that amount to an unknown wallet.

I don't think they will reveal themselves to the public because that is related to the big amount of bitcoin that moves to another wallet. It is too risky to tell the public who are the whales. But I am not sure that is only one person who moves the bitcoin to another wallet because we don't know either who has the wallet address which receiving that bitcoin.

But I am curious about what will happen in the market after that moment. I hope that it will not give a big impact on the market and bitcoin price will still increase in the next week. I see now the bitcoin price try to increase the price like before and I hope that it will rise again and increase to the higher price.

Well if the analysis of the experts were right that it could turn to almost 6K usd next cycle then whoever that whale dumping that huge BTC should regret for his/her btc became an instrumennt through bull run or the recovering of bitcoin market.

Anyway, I just can't believe that there whales are really existing basing on this huge BTC being moved. If this is an individual then surely he can buy the girls around the globe with beers and delux life living. Good for him/her for that wealth. But, I am also thinking that this could also be a group of people that owns the btc and will be going divide after its liquidity.

That seems to be odd, though it certainly triggered a lot of sells for today. Earlier this day, bitcoin was still trading for over $5200 and we have drooped under $5000 for some time until returning to the said range. Idk why would a whale be exposing himself in the open if all they want to do is just move funds around. They could have used some discreet methods of moving their funds from A to B without causing such a stir--or maybe it was planned all along. Anyhow, some traders have already reacted to the said event and could have been much worse if those coins were dumped directly into exchanges.

I don't think this is the real reason why the price suddenly go down. I mean, the whale didn't sell right? It was just a moved although It was caught by crypto whale watchers. Probably he/she wanted to secure his funds, thus moving it right it front of us. I guess the real reason for the sell-off is that speculators just booking profits at $5300, too much of a mental barrier for most of them. The thing is after the selling, the price is looking solid at $5000 range and could really be the new lows.

It looks like the demand for bitcoin among whales is outstripping the amount minted on a monthly basis, and that a lot of this activity is being done on over the counter exchanges so as not to impact the quoted prices. This is a good sign because after the next halving, it will be much more difficult to make such transactions without moving the market.

If all this coin will be selled little by little can cause some price drop, but if only a part of coin will be selled to get more bitcoin at cheap prices, then is very possible all bitcoins to be transferred back to whale wallet.

That are big numbers that are moving around. They would be crazy if the amounts are correct to leave it at a exchange.
Sure it will flow back inn somewhere again.

Here we go again :o
Whales are waiting eagerly for such momentums in the market and they are able to realize the quick facts. After the expected dump, we should ride the new wave of a bear trend, unfortunately.

That is a very large amount, so if the amount of Bitcoin is sold everything will result in a very deep decline in prices, but now prices have started to stabilize again in the market, after yesterday's decline, and I hope there is no further decline

I'm not movement of bitcoin between wallets is synonymous to selling them, If they were moved to an exchange I'm very selling of such amount of Bitcoin would have had a huge negative impact by now.

Checking a few transactions that are marked to be from or to "unknown" whales makes me think most of those are internal transactions done by exchanges from their cold wallets to either hot wallets to make payments or to other storage.

Also, check this one labeled as "unknown" to binance"
https://www.blockchain.com/btc/address/3AAutrR6nVkQmiminewAnp2JXg8yvQBG9b

But in fact, the source for the funds is
https://www.blockchain.com/btc/address/34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
which is actually...also binance's cold wallet (https://bitinfocharts.com/bitcoin/address/34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo)

Does anyone remember any news this week about a "mysterious order"? There's a lot to question, isn't there?

This type of transaction with such a sum will become commonplace over time.  The same thing happens several times a day with fiats.
What is interesting is that some of these bitcoins have been transferred from one trading platform to another. In this case, the coins came out of several exchanges such as Kraken, Coinbase, Huobi and to go mainly to Binance and Bittrex.

Now the question is: what is special about these two exchanges? It can not be for cheap fees, KYC convenience, or great UI,...

Is it a lot, though? First of all, how do we know that all of the money was really moved by so-called whales? The post only talks about the half of it if I'm not mistaken. Secondly, I really don't understand how this kind of money can even make a difference. Bitcoin's trading volume is currently almost 14 billion dollars. $215 million is only around 1.5% of it. Can such a percentage really be attributed to whales? I mean, aren't whales supposed to be huge and stuff? And how can such a share even affect the market in a significant way? My thought is that it can't, and whales are not controlling the market.

What I am thinking is it is enough to prove that Bitcoin has the ability to to overcome the difficulties in any kind of difficult situation and it make the point to be more stable and more fixed with its position to development and it made it simply in this year.

At now Bitcoin is the leading cryptocurrency and valuable currency in the current market situation and it will trying to reach $6,000 in this month but the value is still struggling to be a good development but the Bull Run is possible right now so it may be developed in the end of this year.

Moving bitcoins around can mean many things like someone thinks his coins are more save in a new wallet or a private sale where no exchanges were involved.
The great thing with bitcoins is that you can send $50m with less than $1 in fees, to the other side of the world and they will arrive shortly after you send them. With Fiat, this would take days and the fees would be enormous if it was a cross border payment.

I was expecting to see a red day after this time that the market was growing.
The good thing is that the bitcoin price is tested and that there is a significant resistance at 5k now. If we continue like we do now, I think that we are going to see more growth in the future.

It's quite funny how people go nuts over a few coin movements. In most cases when we see these movements nothing happens; orderbooks don't change, short/long ratios don't change, etc. It's such an easy way for news outlets to try to scare people thinking there will be a dump or whatever. Just get over it.

The most obvious hoax articles were how news outlets made people believe there was a whale holding over 500,000BTC, which later turns out to be Coinbase relocating their funds, and it turned out to concern almost 900,000BTC in the end. The whales news outlets refer to are mostly exchanges or other large services, but that's not nearly as exciting as a mysterious whale "accumulating" or "dumping" an insane number of coins. ::)

These Twitter whale watchers are cool and all, but take them with a truckload of salt. It wouldn't even surprise me if exchanges mix their coins by sending them to X exchange and receive the same amount back from Y exchange.

People are always watching over bitcoin movement from one to another which can mean a lot of things. Maybe this has caused the market to turn red again, a lot of people were bothered and a huge sell-off occurred no one is sure whether this huge amount of bitcoin was meant to be sold or just move from one wallet to another.

From zero to $5k in 10 years.

Thank you Bitcoin for being the most amazing invention in the history of finance.

Wow! That was huge number of Bitcoin funds and I think it is also the reason why the market has impact or maybe whale investors are pulling their funds out so that they can manipulate and victimized those who has  weaker hands so that good gains will be goin into whale's wallets. Whether we are just fooled by exchanges as they themselves are sending funds to their own wallets we need to go with the flow so that everything will be fine.

Maybe the whale is trying to control the trend of Bitcoin, many different scenarios offered, but I believe this is just a plan that creates pressure for all investors to sell Bitcoin. And then whales will be able to buy Bitcoin at a lower price. Whales always have perfect plans.

Oh come on, how about the $20k on 8 years? I bet did you missed that, do you?
We should consider ourselves lucky at least it is progressing since Bitcoin is still under in development. Don't tell me you didn't get anything from that $20k on 2017? This is how the market works and you should think the ups and down. Don't just focus on the positive side if you want your progress to succeed.

We may not know but who knows if they will voluntarily announce that they are the ones who held these amounts? also there are reporters who have always been interested with this kind of news to report.

And with this kind of news before, the market always move and react quickly. But at this time, I haven't seen that there's a massive outbreak and too much dip other than $5,400 back to $5,00 which is normal for me because bitcoin went $1k within few hours.

I wont like to welcome any form of FUD. I dont think it was responsible for the present market situation and it even came later than the reaction, actually that size is capable dumping the market with a big price cut but since it didnt we should try to enjoy our coffee in peace. It is surprising how people watch for any movement in the market and wallets, sadly they cant deprive the movement or know the purpose.

Transfer whales at most to binance estimating not to make red BTC but to pump some ALT, some whales send from market to another market I think we will find a rally again ;). The whales was competing to make an increase in a ALT and From markets to unknown addresses this is a like hold, crypto whale watchers are really great at knowing the whales movements.

The fact that they are transferring the amount credits to two main things :-

1. Now they can be tracked and we can actually see who they are and what was really going on till now .

2. Since they are transferring money to this so called unknown source now we should be sure of one thing that maybe they both are the same person ?
Don't you think ?
I mean at the same time who does this , isn't this too big of a coincidence , even if they aren't a same person maybe they communicate with each other or something.

This is really dark how they have so much control over the market.
Right now the market is kind of stable and not yet to be determined if they were responsible for the rally , we can just see the prices and make a rough estimate out of it.

it is a good sign of improvement if Bitcoin is developed due to be here greater position it will be good for the investor only so who will hold in their investment for a while like the development is happening there will be a huge opportunity for everyone to be developed with their profit.

They moved 42k bitcoins and 5k support tanked it. That is good i think. It means they need more than that to make it point downwards. It is harder to manipulate bitcoin now. Or is it?

That is a whole lot of money man, at 5 thousand dollars per bitcoin that comes down to over 200 million dollars moved, 200 MILLION dollars. It goes to show you how much of the market is actually under whales control. You may think that when combined all the smaller time investors can worth more than the whales and you might be right (or you might be wrong) but in the end we are not as collectively working as they are.

When you are a whale that can move 200 million dollars in a week you do pass the small investors right away and make the most profit, us small investors even if combined look strong do not act all together and we all move according to our own timelines. That is why they are whales and that is why we are not, because we are not a collective force to do anything but individuals.

A few weeks back there was a news that there is a hundred  million dollars worth of buy order being executed between a few exchanges through a combined effort and may be those coins are being moved to another wallets  :P :D. Whale watchers, it is a funny word in the market, just monitoring huge transactions being carried out and glad that they did not come up with the FUD news that a huge sell order is taking place to bring down the market  :D.

At least they didn't try to create FUD in the article. Yeah, but what the heck, whale watchers? Lol, Definitely those people has a lot of time in their hands to look at those big wallets and when and how the move it.

Anyways, it didn't put any dent of the price, as it is testing maybe $5200-$5300 in the next coming days so it's going to be interesting. If we broke those resistance then we are getting  closer to where prior to the massive drop, around the $6000-$6500 range. So let's see if we can get and broke psychological barriers again.

Is it possible that these wallets belong to the exchange itself? It's hard to believe that whales would leave that much btc on an exchange rather than a cold storage wallet

Whales have started storing their coin for the future, when a lot of persons are giving up on the market. Whales are very smart people and they always set a target they want to achieve even before they enter into the crypto market, a whale can set a target to drive the price of bitcoin to a particular amount, and then dump at that point making them a lot of profit in short period of time, we are going to see even more whales coming into the market.