Bitcoin Forum

Hello everybody

this wallet transaction was made before BTC get higher !!
This address has received 32,600 BTC in the last 2 days

https://i.redd.it/ar7n0tvxzzkb1.png

Strange isnt? its like they knew it would be more than 25K as it was for the last few days

who are they anyway?

any thoughts guys?

I don't see it as fishy. The amounts are similar, around 5-6 bitcoins per transaction. Can't it be an exchange consolidating or something?

I understand that you think it's someone who had information beforehand about the Grayscale ETF ruling and took advantage of it to buy, but it seems to me that there are other, less conspiranoid explanations.

If we saw the bitcoins move indicating a sale, I might think that this is the case, but it seems to me that we can only speculate.

A wallet address sending/receiving a certain amount of bitcoin doesn't necessarily mean the wallet address owner bought the bitcoin at that specific time. Without going full chainalysis on the wallet/transaction, this could simply just mean that a person/entity/exchange moved some bitcoin to another wallet address for whatever reason.

It is not that easy to determine whose wallet address it is. It can be a coincidence that the transaction were made just before Bitcoin pumped. Looking at the amount of Bitcoin this wallet holds, the best guess could be an exchange wallet. I don't think there is anything fishy around the transactions made before the grayscale announcement.

Coincidence is a big talk though, I'm on OP here being fishy but that's all there is to it, I mean there's people out there that's good in trading and such so I won't be surprised that things like this happen plus it's not really our business if that address really has something to do with the rise in price last night (in my TZ), what you gonna do about it if we know about it early on? Stop them?

It is just speculation and nothing but it, it can easily be that the Wallet owner decides to have a change of wallet address one way or the other or even trying to consolidate all of them here just for his security, properly his recovery phrases seems compromised or he can’t find them and then is taken precautionary measures before anything happens.

The other valid reason could be he set out that 25k price target that he is gonna buy this amount when it comes. All this are part of the plan for some investors for the upcoming bull run and probably nothing more than that.

I saw some discussions about this address and the 32,600 BTC, and it seems that some beginners in X think that such transactions seem fishy, but they happen all the time. During the 24 hours, the volume of Bitcoin that was traded was 1,144,202 BTC, and when we compare it with 32,600 BTC, we will notice that its impact on the price is limited if it was purchased recently and was not a transfer between the addresses of one of the whales.

Quantities of more than 100,000 Bitcoin are what may affect the price, and even these quantities will not have an impact beyond changing the price direction.

The Grayscale ETF ruling is really generating and pricking investors thoughts lately and any big move just before or after that ruling has been attracting suspicion and speculations and this very transaction should be of no difference either. I think people are just excited over nothing (ruling) yet approved.

OP be there is nothing fishy about the transaction. There is every possibility that wallet or transaction might belong to and exchange or a whale who is moving his or her assets from and old wallet to a new one as the case maybe. Often times, they change vaults regularly for the safety of their assets because when such amount of assets stays too long in a particular wallet there is every tendency that such wallet would be a target looking at the recent happenings surrounding wallet hacks. So therefore I assume they moved it for safety.
Talking strange about a mere movement of assets is just a speculation as that does not explain the main reality of what an transpired but if there is anything attached to this assets movement, do not bother because in less than no time, the truth about such wallet and it's transaction would be revealed to the community.

Unless you really know who the person behind that address, then you can say that it is fishy. But who knows, that's only an address and we can't deduce who are the person/s with that addresses.

Maybe it was just an exchange, or some big whales consolidating everything.

So there's nothing strange on that one, there could be others too who move their bitcoins without seeing the big incoming movement.

OP It's not fishy; transactions like that happen every day. Maybe some whales or exchanges changed their wallets for security reasons or just moved from an existing wallet to a new one.
and transaction amounts are also not very big, like 5000 BTC-7000 BTC, which is normal for a block.

You are just overthinking a transaction because of the recent bitcoin pump.

Not fishy at all. If I am not wrong, there was post regarding this earlier too on the forum. Maybe in Beginners board, I don't remember now. So maybe this guy or organization had their crypto in different wallets and now they decided to keep it one as they are done acquiring enough Bitcoin. Some people claim it's Robinhood, I don't know if that's true or just a speculation however if they are holding this much Bitcoin, most probably it's people's money.

It is unlikely that active traders (that are actively making profit based on market reactions to different news) withdraw their bitcoins from the exchanges this quickly and at a time like this. To put simply, the market is now getting exciting and active for traders to make profit from, they are not going to pull their funds out the exchanges and miss out on all the opportunities of making profit.

Apart from that, transactions like this to addresses similar to this are not as uncommon as you'd think. Specially since this looks more like a service like an exchange wallet working with such large amounts as 5k-6k bitcoins in each transaction.

That's what I was thinking.
Nothing unusual to see here.
Every time a sudden drop or rise of btc occurs people are trying to come up with some "fishy" bitcoin movement. There is so much trade and transfer volume every day, these amounts seem minor to me.

Big whales trade in big blocks mostly, not in smaller batches. That would actually have a possible effect of the price of bitcoin, but certainly not this I think. Anyway, same old.

I don't think it's fishy but rather a person with good patience and waited before the price increase where it is time to sell for profit. I'd say he/she is a whale for having lots of BTC. Do you have another explanation as to why it is fishy in your own point of view. Well, if you ask another forum user then they would also say that it isn't fishy at all. There are lots of people who store BTC and waited for the bull run to happen.

We need to stop overthinking about others wallet and instead, we need to focus on our own. Every time the market drops or gets up, we do see these people looking at those huge transfers for them. This isn't that much and it can be an individual that just recently made a move to sell/dump those as it's visible that there's going to be a sudden pump. Even in the normal days, there will be transfers like this and it has nothing to do with the market. Thanks to those pages that have been monitoring these moves because this now have became a signal to those people that are only looking for transfers if something has been done to the market. It can be a good factor to know the market sentiment but it's not always like what people thinking because it only gives you anxiety when you're in a FOMO.

And there's nothing we can do about it but to see on how those coin moves and due to the fact about the anonymity of Bitcoin then there's no way on knowing even if those coins would be touching up on exchange platforms on which there's no way that it could really be known. Its true that there's nothing fishy about these yet its never been that excluded out on the possibilities that early news whether negative or positive
could really be known on early manner by these individuals or groups on which making up a decision whether on buying or selling. We could really make out some assumptions but we cant really point out fingers
on whose the one is really make int.

One things for sure that when it comes to manipulative kind of situation then it does really have the probabilities but trying to prove out on whose behind those transactions and addresses is not something
that we could be able to know off. Instead on being that too mindful about of these movements then it would be just wise that you should really know on how to ride with the waves
and able to utilize if ever you have noticed something in regarding to this.

Who cares? Do you care about someone owning a lot of USD or any other currency? Then why should you care about someone owning a lot of BTC? Or better say "controlling", because someone could be holding those coins on behalf of many users, like in case with an exchange or an ETF.

Op since there is no wallet address to know the exact amount in the wallet what has been displayed from the image became speculation because it is not the true bitcoin in the wallet. If those coins are own by someone it is still bitcoin and I don't think this is strange, some people are even having bitcoin more than like that amount. The amount of bitcoin transfer within 2 days have nothing to do with owner. And with such huge amount of bitcoin, it will be own by a whale.

If you were some whale and had insider data you wouldn’t do it in one transaction like this. You would spread it out with multiple addresses and multiple hours and spread it out.

This is probably some exchange moving some funds around. Sure it happened during a big event but it was just nothing more than a coincidence.

Anything could result in this transaction, and we can't disregard or forget the fact that there are smart guys in this industry and a lot of things happens behind the scene that later manifest on chainanalysis. However, the wallet may also belong to an institution that is keeping tabs on Bitcoin (smart money guys) that is not even an exchange that saw the opportunity that was presented then took advantage of it, and said hey! It's time to hit the buy button and it happens that the transaction coincidently occurred within the time of the ETF ruling.

I agree, a whale will put it in many batches so that it's going to be harder to be traced. But if this is from an exchange and they're just moving it typically, there's nothing fishy about it.

It has became a hobby to check out these huge transfers because there have been software or people that have been monitoring them day and night. Thus, for these people that have been looking forward to have their own investments as well, they think that it's an interesting thing to look at these transactions as if they're fishy.

It appears to be ByBit moving funds into a new cold wallet.

https://www.talkimg.com/images/2023/08/31/MexCj.png

This seems to be true, according to Glassnode, 31,800 BTC moved out of Bybit's cold storage and since such flows would have appeared in the balance of one of the other exchanges but they did not, which means they either moved them to new cold storage or sold them OTC, the first guess seems to be... TRUE.

https://studio.glassnode.com/dashboards/proof-of-reserves

Even if it is sold, it will not affect bitcoin price.

Not fishy at all because sometimes they just adjust the funds from one wallet to another If there is fresh buying then it has some other explanations as well, in my view the point that OP is trying to refer to has around 1% to 5% chances to be true.

Movement never effects the the price and as far as its not affecting the market nothing to worry but this amount can be enough to put a greater pressure in the current timeline  ;D ;D.

Why we should care with someone else coins?

Wow there's a huge amount of Bitcoin moved from this address to that address. This address never move the coins since 2013, this address is owned by Elon Musk, this address is owned by Binance, now what?

Will I get a share after I know the origin of the address?

Care or not !! you saw what happened with FTX !!! we need to be aware for moves like this

of course l don't care who will have this kind of money but again is just to be on guard

specially for people who use exchanges and put their money there so its not a problem to make some awareness for moves like these

I agree with you and I also think that it's not our problem if someone moves their coins from one wallet to another one. We should not really worry about those kind of transactions as they don't impact us in anyway. I don't know that what is fishy about the transaction that the @OP is trying to share. The people like @OP only try to share such information to get attention of the members because I can't see anything fishy with that wallet and I think @OP has posted this thread only to seek attention and nothing else.

If I'm not wrong then @FinneysTrueVision confirmed that the account belongs to ByBit and they're moving their funds into a new cold wallet. I would recommend @OP to read the comment of @FinneysTrueVision to clear his/her doubts about the fishiness of the transactions of that wallet. Proper research is always better than pointing out finger toward a thing that's not a part of reality.

attention? oh no you're too far from the truth dude

i just trying to make awareness im afraid to loss my money like FTX crisis !!

Its the BTC im afraid of is the one who moves all that amount!! i though maybe a exchange platform

There's above user mention if this address is associated with Bybit, since you think the moving of huge Bitcoin related to scam exchange, you can create a topic Bybit is scam and use this reason of your accusation.

I'm pretty sure every people will mocking you.

BTW, there's no reason to leave your coins on a centralized exchange, everyone must hold their coins in non custodial wallet.

If you are afraid and worried that something like FTX will happen, you should move all your assets from the exchange and not use them at all. You also don't need to use any exchange that can make you worried and afraid and you should look for an exchange that you can feel comfortable with.

You don't need to worry about transferring large amounts of Bitcoin because what you need to worry about is how you secure your Bitcoin assets to your personal wallet. As long as you can secure your Bitcoin assets to another place that is truly safe, you can rest easy and nothing bad will happen to your Bitcoin and altcoin assets.

Those are all the risks we have to face in investing in crypto and also we can get more risk if we keep all the assets on the exchange. No one recommends that investors or traders keep their assets on any exchange. And we are responsible with our assets. Thank you for your information about that.

This isn't a fishy stuff,it is normal that big amount of bitcoin are moved once in a while to other wallets,for safety of the bitcoin. I don't think that this amount is big should in case it belongs to an exchange. The liquidity in exchanges belongs to millions of people and not just for one person. If the wallet belongs to an entity, a whale must have moved his bitcoin from one wallet to another to make sure that it doesn't remain in on wallet permanently. Or maybe he decided to split his bitcoin into various wallets.