hmmm fishy

[Franctoshi]

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.

[blockman]

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.

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.

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.

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.

[FinneysTrueVision]

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

[Yamane_Keto]

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

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.

[Hamza2424]

__SNIP__

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  .

[Solosanz]

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?

[teoliya33]

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

[SamReomo]

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?

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.

[teoliya33]

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?

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

[Solosanz]

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

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.

[michellee]

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

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.

[Sim_card]

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.