Bitcoin Forum

Someone 1½ day ago just bought 14666 btc largest amount in a month see coinbase outflow, hum why would someone just buy 14666 bitcoins iIwonder why?

You're mistaken. 14,600 Bitcoins were withdrawn from Coinbase and this is a cumulation of all of the users that made a withdrawal from Coinbase within that timeframe.

The coins could've been bought by thousands of users and withdrawn by them from weeks, months or years ago. It is not a single entity.

No i am not its total same way as last time Elon buy, and nearly same time as Elon twitter.
I would NOT short more here

If you look they 14666 bitcoins where all bought at 12 AM at same time

https://cryptoquant.com/overview/full/413?window=hour

It is somone big and due to same time as Elon Twitter, and he loves to twit before he say he buy.
I would say its him

The link you provide requires login credentials to see the image. For those that do not wish to do so, the image included in the article referenced at the bottom of this post depicts the said withdrawal:


The article speculates and theorized on the motives and effects, but nothing comes too clean from its reading.

https://thecoinshark.net/es/bitcoinnews/cryptoquant-spotted-the-sale-of-14-666-btc-on-coinbase-pro

will be interesting see, if he smart and we know he is he will say it within next 24 hours ;)

From this image it seems the withdrawal was taken place at a specific time. So it's unlikely that many people have withdrawn at the same time and most likely it is a whale withdrawing his funds for better use! The article doesn't talk about the motive behind it because it literally impossible to know for anyone other than the owner of the fund.

But if this huge amount of bitcoin goes to sell, the market will slide further and that will provide us another opportunity to enter the market to make some quick money!

It may be Elon Musk or another businessman who found the opportunity to buy large quantities of bitcoin with the low price of bitcoin. Now is a very good time to buy and accumulate, so it is not surprising that whales or some businessmen take advantage of the opportunity to buy large quantities of Bitcoin and store it for later.

Well, whoever bought in whether 1 person or several individuals it doesn't matter. It did nothing to the overall BTC trend. Perhaps that was an intention to bring its market back up again but it didn't.

What's important is to focus on the market as it is now... And that despite the red market there are large amounts moving in still- that's at least one good thing.

There is really chance that it might not only be a single person, but rather the Coinbase system itself flushed those crypto's out. And if you still wonder why this thing occurs, big players / whales often do this especially if they would invest on something like alts or projects, or would do a big move in the Bitcoin market. Having the withdrawal be happened on an exact period of time is most likely being on a wallet's delay on transactions. You can notice it if a wallet has too many transactions that they handle or has an internal upgrade to be done. Nonetheless, it is a common thing.

Yes, it is true. These moves give some optimism and give positive indications despite the current bad market situation that the market situation will soon improve for the better. There are many people who panic when they see this red color, while whales on the contrary find that this is a great opportunity that they should take advantage of.

while others are in panic mode, some whales are just accumulating more BTC.  ;D it is none of our business, whether someone withdrew a large chunk of bitcoin. just mind your own. strategise how to take advantage of this opportunity. a lot more companies are coming in. so sooner or later, we will see the price rising again in no time. weak hands will regret.
not only tesla will add bitcoin in their payment system, watch out for other companies to follow thru...

Yes whales just buying, might be smart idea get some cheap coins before we go up ;)
I sure am buying

There is a twist in your finding, it is not a single transaction and it was debunked and you will find these kind of huge transactions in some of the bigger exchanges and not just Coinbase and even if it is a single user investing in bitcoin, what is wrong with it as many institutions have invested billions in the past few months and anyone with money can invest :P.

It's still an unknown transaction, either it's a purchase or a transfer of Coinbase from other wallets.  There are too many rumors that it could be Elon Musk or a businessman who purchase Bitcoin to buy Tesla because something like coincidence when Elon Musk tweeted that he accept Bitcoin to purchase Tesla.  Another reason might a custodial wallet that buying at the dip as the Coindesk article said (https://www.coindesk.com/bitcoin-transfer-worth-806m-might-reveal-big-institutional-purchase).

Whatever reason it is, it's another hype of Bitcoin price.  There is still a big player that wanted to play the market price or another institutional brand company that follows the steps of other big companies that were accepting Bitcoin.  But still, nobody knows.

You still don't understand or you simply don't want to understand?
There was no 14666 buy! It was a 14666 (if the number is right) of coins going out from coinbase pro wallets.
Those coins could have been bought a month ago, a year ago or the owner could have deposited 20k and now got out only 3/4 of them.

Second, if you look at the graphic on that article you will see that there were serious spikes with one of over 30k happening in late February.


You realize you need 2 BTC for that, not 14 666.
And I don't see a guy who has close to one billion in BTC rushing to cash out of a custodial service so he can pay for a car  ;D

Perhaps its another coincidence?

https://i.imgur.com/4vYts57.png

https://www.cmegroup.com/trading/bitcoin-futures.html

Regardless though, the price of BTC is still within the $50,000 range, perhaps this news didn't really put a dent on the price.

What is the proof? I think it is too speculative saying Elon Musk or a businessman who bought the Bitcoin. It is better to say a whale who bought the Bitcoin, it can be someone, a company, or anything. Regarding it is a low price or not, I think it is still debatable, depends on how you view it. In my opinion, the current price of Bitcoin isn't a low price anymore. Moreover, we don't know what the maximum price of Bitcoin to reach this season.

They are really that mindful or much off to concern when they do see events like these where they do make out their own impressions that they do have that in mind that this might be an advantage or disadvantage towards
the overall market.

Its true that it doesnt matter if this one is a single person purchase or pullout of funds or a company or group of people.Events like these are common among exchangers where big transactions like this
could really happen.

Important here is that on how it would affect the market as a whole.

You seem to have some problem understanding the concept of transaction volume and the 'outflow' as described. Transaction volume and withdrawal is completely different concept. One involves buying and selling Bitcoins at specific prices and one doesn't involve any buying or selling Bitcoins.

Transaction volume has frequently spike but it depends on what's your candle frequency to determine the total amount transacted during that period of time.

And that is what important for me  ;D I don't know what's OP's Problem or Main concern if there is transacting either deposit or Withdrawals a almost 15k bitcoin when the truth is market is now in peak so decisions may come often for those Whales inside crypto .There are some who bagging Money and some that wants to bag money in future.
No matter what reason is ? for me it is the 50k level that concerns me more .