Address 36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S sent -25,160.31BTC to coinbase

[vit05]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

[samcrypto]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

That’s pretty huge and there’s a chance that this transaction is the reason why the market dumps again, but I wonder where that bitcoin from and why he transfer it to coinbase, either to hold or to sell but this transaction is really big. Anyway, correction is happening and I hope this is just a short correction because we are from a bear market and its sad to see the price falling.

[fabiorem]

Pure manipulation.

[figmentofmyass]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

that doesn't look like a transfer to coinbase to me. 3D9Gi4JsBaFRfyyDHiC3QM4o3zreV6oD4G (the recipient of the 25k BTC transaction) is part of a Xapo.com wallet. i don't think these coins were dumped.

https://www.walletexplorer.com/wallet/Xapo.com?from_address=3D9Gi4JsBaFRfyyDHiC3QM4o3zreV6oD4G

[BTCgrinders.com]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

that doesn't look like a transfer to coinbase to me. 3D9Gi4JsBaFRfyyDHiC3QM4o3zreV6oD4G (the recipient of the 25k BTC transaction) is part of a Xapo.com wallet. i don't think these coins were dumped.

https://www.walletexplorer.com/wallet/Xapo.com?from_address=3D9Gi4JsBaFRfyyDHiC3QM4o3zreV6oD4G

How reliable is Xapo as a company and web wallet?

[pooya87]

Was he the cause or did he have information about this possibility of correction?

large transactions like this one are happening almost every day and that is not even the biggest. the biggest ones in the past week has been 157,457BTC or $1.4 billion and 144,076BTC or $1.2 billion!!! if you think each time someone moves large amounts price should drop then price should drop literary every week and never rise. besides why does your mind directly go towards someone selling? why don't you assume that someone bought that much because of the drop?!!

here click this link and see the gigantic transactions for the past week yourself: https://blockchair.com/bitcoin/transactions?q=block_id(578125..)&s=output_total_usd(desc)#
you can also change the date or block ID at the bottom to change the time frame.

[figmentofmyass]

large transactions like this one are happening almost every day and that is not even the biggest. the biggest ones in the past week has been 157,457BTC or $1.4 billion and 144,076BTC or $1.2 billion!!! if you think each time someone moves large amounts price should drop then price should drop literary every week and never rise. besides why does your mind directly go towards someone selling? why don't you assume that someone bought that much because of the drop?!!

he thought the coins were sent to coinbase. there's only so many things you can do when you deposit bitcoins to an exchange, especially one that doesn't offer margin trading. mainly, you can sell them.

[adaseb]

I've been reading posts about these transactions and people are freaking out everywhere. If I had to guess I am assuming its Coinbase updating their cold storage or something similar.

If you are a whale you wouldn't send that much in 1 transaction to spoof the market. Same with the way whales stack orders on an exchange, most will never show the entire order instead they will make it an ice-berg order.

Its just a coincidence that the drop happened at the same time as the transaction. There is no conspiracy theory here.

[illyiller]

I've been reading posts about these transactions and people are freaking out everywhere. If I had to guess I am assuming its Coinbase updating their cold storage or something similar.

It wasn't even Coinbase at all, but Xapo. Either Walletexplorer is wrong (which I doubt), or people just saw a deposit to a big hot wallet and assumed it was Coinbase. See here:

https://www.walletexplorer.com/wallet/Xapo.com?from_address=3D9Gi4JsBaFRfyyDHiC3QM4o3zreV6oD4G

[Adriano2010]

I also don't think the price drop because of someone send so much coins to coinbase for sell, i think the price had some correction and this caused the drop, and even whales will not sell so high amount at once.

[BayAreaCoins]

Not worried about it.

[davis196]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

Maybe there's no "he".Some crypto company or crypto exchange is moving some coins from one wallet to another.25,000 BTC is a very small amount to have such influence over the bitcoin price.

[NeuroticFish]

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

1. Can you prove it's Coinbase address?
2. Was Coinbase the start of the dump?
3. The seller didn't spread the coins to sell between more exchanges?!
4. How big part of the dump is from Bitmex?

Or you only try to FUD a little?
A correction had to come. It came earlier than I wished, but for now it's in the range of normality. If it goes much lower then maybe we can be a bit worried.

[pooya87]

large transactions like this one are happening almost every day and that is not even the biggest. the biggest ones in the past week has been 157,457BTC or $1.4 billion and 144,076BTC or $1.2 billion!!! if you think each time someone moves large amounts price should drop then price should drop literary every week and never rise. besides why does your mind directly go towards someone selling? why don't you assume that someone bought that much because of the drop?!!

he thought the coins were sent to coinbase. there's only so many things you can do when you deposit bitcoins to an exchange, especially one that doesn't offer margin trading. mainly, you can sell them.

well here is another thing to think about for those who from time to time quote one of these big transactions during every drop:
you can never sell large amounts on an exchange or even if you by some miracle sold it, you will never be able to withdraw. because not only the exchange won't allow it but also your banks, their banks and possibly other agencies red flag your ass.
in this case 25k bitcoin is worth more than $200 million... i don't think i have to explain how stupid that sounds

[mrmj_cryptoreporter]

Whatever the reason behind it: but i find this is an opportunity to accumulate more my fav coins in my portfolio i was waiting for hope to see more dip

[buwaytress]

Whales were moving huge amounts coming up to the rise as well, in fact the past 2 10% or more spikes have come hot on the heels of whales moving similar big amounts. It's a whale. He doesn't really care if it's attracting attention, if he did (to prime or time a dump), there wouldn't be anything anyone could do about it either.

I'm also still waiting for all those so called deep learning machine learning AI algorithms that are supposed to predict these sort of events or at least the follow up market action. Where are they?

[fabiorem]

large transactions like this one are happening almost every day and that is not even the biggest. the biggest ones in the past week has been 157,457BTC or $1.4 billion and 144,076BTC or $1.2 billion!!! if you think each time someone moves large amounts price should drop then price should drop literary every week and never rise. besides why does your mind directly go towards someone selling? why don't you assume that someone bought that much because of the drop?!!

he thought the coins were sent to coinbase. there's only so many things you can do when you deposit bitcoins to an exchange, especially one that doesn't offer margin trading. mainly, you can sell them.

well here is another thing to think about for those who from time to time quote one of these big transactions during every drop:
you can never sell large amounts on an exchange or even if you by some miracle sold it, you will never be able to withdraw. because not only the exchange won't allow it but also your banks, their banks and possibly other agencies red flag your ass.
in this case 25k bitcoin is worth more than $200 million... i don't think i have to explain how stupid that sounds

Not if the dumper was a governmental agency, or a bank. In this case they have it fully covered.

And if bitcoin drops $800 in a single day from a 25k BTC dump, I can only imagine what would happen if it was 1 million BTC.

[livingfree]

I think it's just a mere coincidence. Whenever there are huge transactions like this, people from everywhere are freaking out and that's the cause of the dump.

Everyone starts to sell and thinking that there will be a huge dump so they're doing it earlier before that transfer puts on sell order.

[fabiorem]

I think it's just a mere coincidence. Whenever there are huge transactions like this, people from everywhere are freaking out and that's the cause of the dump.

Everyone starts to sell and thinking that there will be a huge dump so they're doing it earlier before that transfer puts on sell order.

I believe this is a bear trap. The whale dump such volumes so that people sell in panic. Then the whale buy it back with a 10% drop from the initial dump. Since most bears would be waiting a 30-50% drop, their shorts are squeezed.

The whale dont even have to take the money out of the exchange.

[Pursuer]

I think it's just a mere coincidence. Whenever there are huge transactions like this, people from everywhere are freaking out and that's the cause of the dump.

Everyone starts to sell and thinking that there will be a huge dump so they're doing it earlier before that transfer puts on sell order.

nah, because nobody is watching the blockchain ever to see these types of transactions so they don't even notice these types of movement. the only case when it comes to people's attention is when someone like OP finds a completely random big transaction and posts it on social media like this forum! and still that won't do anything to the price because it is not the first time something like this comes out.

[vit05]

I think it's just a mere coincidence. Whenever there are huge transactions like this, people from everywhere are freaking out and that's the cause of the dump.

Everyone starts to sell and thinking that there will be a huge dump so they're doing it earlier before that transfer puts on sell order.

nah, because nobody is watching the blockchain ever to see these types of transactions so they don't even notice these types of movement. the only case when it comes to people's attention is when someone like OP finds a completely random big transaction and posts it on social media like this forum! and still that won't do anything to the price because it is not the first time something like this comes out.

I didn't found. I just follow whale alert and usually those movements could help in making a decision. It was hard to know to where the price would go after 8.5k. And when it would open a buy opportunity.
We are in the speculation section, and I am speculating about those big movements.

[1Referee]

I'm also still waiting for all those so called deep learning machine learning AI algorithms that are supposed to predict these sort of events or at least the follow up market action. Where are they?

I think they are being used already by blockchain analysis firms and very likely a wide variety three letter agencies. This is why I expect more whales to eventually use Blockstream's Liquid because of its fast and private transactions. The only thing Liquid is lacking is more exchange based adoption, but that's just a matter of time.

I must say though, whoever moved that many coins, it's massive free advertising for the whale alert Twitter operator. This news has been covered here on local news channels more than once today.

[CryptoBry]

This is the move many blamed for the current correction or dip and many are crying manipulation. For me, manipulation or not, I think that is just a normal transaction and if that caused the dip then let it be. It is the right of the owner of that bitcoin to move his hoard in any way he wanted to we are out of the picture and blaming that move or even him is useless. As pointed by another member, there are transactions far bigger than that. Maybe the market is just looking for a scapegoat for the correction which was already due at that time. Anyway, let's give bitcoin a break...let's enjoy the dip...buy more bitcoin or convert any altcoins we can convert to bitcoin...this is another window opening for all of us. Always thinking of the positive side is the key.

[figmentofmyass]

I believe this is a bear trap. The whale dump such volumes so that people sell in panic. Then the whale buy it back with a 10% drop from the initial dump. Since most bears would be waiting a 30-50% drop, their shorts are squeezed.

The whale dont even have to take the money out of the exchange.

that made sense on the initial dump from $9100-$8000. but now we're seeing lower highs + lower lows and we're falling below long term moving averages. + signs of exhaustion being that the $9100 spike only lasted a few moments.....no fomo left.

an accumulating whale would be playing with fire by pushing the market down when it already seems exhausted.

[buwaytress]

I think they are being used already by blockchain analysis firms and very likely a wide variety three letter agencies. This is why I expect more whales to eventually use Blockstream's Liquid because of its fast and private transactions. The only thing Liquid is lacking is more exchange based adoption, but that's just a matter of time.

I must say though, whoever moved that many coins, it's massive free advertising for the whale alert Twitter operator. This news has been covered here on local news channels more than once today.

Yeah, massive advertising. Wonder who owns it, got to be chanalysis/3-letter agencies.

And probably a good point on using Liquid -- they already got a few of the big guys on it, in fact on Xapo and BitMEX alone they already have enough Bitcoin between themselves to facilitate a lot of confidential whale transactions. The question is, do the whales still doing stuff on-chain want to identify themselves to Blockstream et al? A whale may conceal their txs on BTC public blockchain via Liquid but it's still a huge ask to have any number of Blockstream people actually knowing who they are (to me, anyway).

Could another possibility be that these whales would also form a federation of LNs and keep it all completely off-chain?

[gentlemand]

How reliable is Xapo as a company and web wallet?

There are two Xapos. The one for no marks who used it because it paid your fees once upon a time. The other one is being a friend of the CEO who stores your vast amount of coins for you. He persuaded quite a few big hitters to invest in BTC in 2012 or so. This particular tx will be the latter.

[Slow death]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

this is like one of those situations that the loser gets very nervous and makes many accusations to the adversary just because he does not want to admit that he lost in a fair way. We have to start accepting that the price may fall.

we have to forget this:

Price fell = Manipulation of whales

[jrrsparkles]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

Or that selling might caused the price of Bitcoin to lower.what I understand from the people who are trying to manipulate that will buy that coins soon when the prices of Bitcoin reachest bottom and stable at some time for a particular price region.

[GregH37]

https://bitinfocharts.com/bitcoin/address/36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S

This address sent 25,160.31 BTC to coinbase a few moments before this dump. Was he the cause or did he have information about this possibility of correction?

You see why I always tell people that this market is seriously unpredictable, I expected a correct right, but I didn’t expect it to fall us below $8k, and when I saw it I knew someone must have moved a very huge amount of BTC off the market and that could really be it, nobody knows.

I think 25k BTC leaving the market is quite a very big dump, and I hope this will not create panic sell for people, but I believe investors already understood this time of situation, and instead of panic selling, I think it was the right time to buy because the market will surely rebound. I expect it to rebound speedily if don’t get more of this type of pull out.

[FanEagle]

If this is the case then you have no idea how lucky we are right now. I don't know how many bitcoins were sold during this new drop but if it was as high as 25k bitcoins and we only dropped from the resistance to support levels and didn't drop any further then we are super lucky.

Normally, when something as big as 25k is sold we drop like hell, I mean like 30%+ lost in a day is not something shocking in bitcoin we had that before so if 25k was sold and we are only here that means people still believe in bitcoin and we will definitely get to a higher price because there was just one person who sold but all others are still long on bitcoin.

If this created some wave of people selling then it would be bad for us but it didn't so I would suggest everyone to buy bitcoin right now and hold, we will go above 8.5k soon.