Moving large sum of bitcoin

[Maus0728]

It looks like there is someone/ group of people is transferring bitcoin! 43k bitcoin is a hell amount of money. If I am not mistaken, he is not transfering to an exchange right?




https://blockchair.com/bitcoin/address/3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh

[1715075916]

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[1715075916]

1715075916

[1715075916]

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[1715075916]

1715075916

[DarkDays]

Looking at the destination address, there is no indication that it's an exchange address. Or at least, they haven't been marked as such yet.

Usually, these large transfers are judge hedge funds consolidating their balances or moving to an upgraded custodian or cold storage system.

I remember reading a while ago about some huge transfers that were initially thought to be a whale unloading onto the market, but were actually found to be an institutional trading house moving their Bitcoin over to Ledger Vault—a secure custody solution for crypto firms.

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

[yazher]

That's a lot of money right there and they moving it to some unknown address. My theory is I think someone just upgraded their wallet to a new one or someone wants to ready for something. whatever the reason is, this surely makes some noise in the market community. Another speculation will follow after this transaction. By the way, I never knew that someone has developed a bot to track huge BTC transactions. So we cannot move them privately now if we move a huge amount of BTC in one transaction? everyone seems to know about it because of this bot on the image.

[OmegaStarScream]

I just googled the address, and apparently, it belongs to Bittrex: https://clankapp.com/address/3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh

Not sure how accurate the site is though, I've never used it before.

[BrewMaster]

If I am not mistaken, he is not transfering to an exchange right?

there has never been any reliable way of knowing whether it is being sent to an exchange or not to an exchange. and this has not changed. unless the owner(s) of those coins or the destination(s) come out and publicly tells us what they did we will never know.

and these very large coin movements are moderately common in bitcoin. specially when fees go down because big businesses consolidate a lot of their coins and move funds between wallets, make big payments,... during these times.

[mk4]

If I am not mistaken, he is not transfering to an exchange right?

Doesn't matter. If the coins are owned by one person and is planning on dumping, fine whatever. Another opportunity to buy cheaper coins.

EDIT: Another one, and another one. Now this we know that it's really going to an exchange lol.



https://twitter.com/whale_alert/status/1271109434677354497
https://twitter.com/whale_alert/status/1271086349043539971

[RapTarX]

That's a hell lot of amount in fiat. I doubt it's owned by single person and going to be cashed out. Otherwise, the price will pull back to $6/7 k I guess.
ATM, BTC price is a little downward, is it the reason? If so, I guess it will create some downward pressure for a while.

[ShowOff]

whatever the reason is, this surely makes some noise in the market community. Another speculation will follow after this transaction.

It is very possible, speculation will emerge as peoples reaction to such a large transaction. After a few hours after the transaction, I didnt see the market reacting quickly and that was a number of circumstances that could prove that the transaction was a transfer of assets by one of the exchanges to safer storage. I agree with the opinion of DarkDays.

there has never been any reliable way of knowing whether it is being sent to an exchange or not to an exchange.

In my opinion, we can still find out if it is a deposit address, then all bitcoin will be transferred to cold storage and we will see the balance become empty in the wallet. If this is a storage address, the balance will continue until the owner transfers it to another wallet.

[mk4]

That's a hell lot of amount in fiat. I doubt it's owned by single person and going to be cashed out. Otherwise, the price will pull back to $6/7 k I guess.

This is assuming that the owner would market sell dump every single coin in one go, which is obviously not the smartest thing to do if he/she wanted to have the best offer for his/her coins.

ATM, BTC price is a little downward, is it the reason? If so, I guess it will create some downward pressure for a while.

Possibly. I'm guessing that it's the reason. The market has always been prone to fear from information like this.

[Reid]

Yummy!
Are they giving tips to those who will know if it sent to an exchange or not?  

If it's true that it is being divided (mk4 post above) and sent to Binance then brace yourselves for another buying fiesta of cheaper bitcoin in the market.
Afterward! Yahoo!

[Yudhisthir]

If I am not mistaken, he is not transfering to an exchange right?

Doesn't matter. If the coins are owned by one person and is planning on dumping, fine whatever. Another opportunity to buy cheaper coins.

EDIT: Another one, and another one. Now this we know that it's really going to an exchange lol.



https://twitter.com/whale_alert/status/1271109434677354497
https://twitter.com/whale_alert/status/1271086349043539971

Transferring large sum of bitcoin to an exchange refers to a planned dumping of bitcoin either to cashout or in favor of an alt. I don't think any of those are from early bitcoin miners as they'd act more discrete than this. I think it's either a hedge fund trying to divest or a large mining farm cashing out it's earnings.

[Sanugarid]

Looking at the destination address, there is no indication that it's an exchange address. Or at least, they haven't been marked as such yet.
Usually, these large transfers are judge hedge funds consolidating their balances or moving to an upgraded custodian or cold storage system.

If these addresses were not marked as any of exchange address, I'm pretty sure that it was a cold storage address since nobody would really put that huge amount in just a plain wallet.
So I guess we will be putting an eye for this one in case that any exchange will be announcing the identity of these addresses. Put a ward.

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

Yeah, it could be and it would be beneficial for the community if it really is.

Some of you guy are wondering why the price isn't declining after this movement  it was moved not sold.

[LoyceV]

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

I always consider the Bitcoin market to be highly manipulated. If traders start assuming a large transaction is going to lead to a drop in price, it can be used for manipulation too. All that "the whale" has to do, is transfer a large amount, and the price drops, even without selling anything!
I don't like manipulation, so I'm not buying nor selling based on this.

[BrewMaster]

there has never been any reliable way of knowing whether it is being sent to an exchange or not to an exchange.

In my opinion, we can still find out if it is a deposit address, then all bitcoin will be transferred to cold storage and we will see the balance become empty in the wallet. If this is a storage address, the balance will continue until the owner transfers it to another wallet.

first of all only someone who is not right in the head would send millions of dollars worth of bitcoin to an exchange in one transaction! that is just ultra stupid specially when the exchange is a shitty one that has gotten hacked recently.
secondly i have never seen any exchange that directly moves the coins you deposit to their cold storage. they always mix the coins with a ton of other inputs and make payments from them and that is to the point where it becomes impossible to even track which coins went where...

[Twentyonepaylots]

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

I always consider the Bitcoin market to be highly manipulated. If traders start assuming a large transaction is going to lead to a drop in price, it can be used for manipulation too. All that "the whale" has to do, is transfer a large amount, and the price drops, even without selling anything!

The market is heavily manipulated by big players, of course they have the biggest gun to point to the market that would impact a lot on which case they might caught the small players in a net thinking the movement was unknown. But in my opinion this huge amount belongs to a institutional investments or exchange, there is a less chance that it is from just a single person coz if it does then he's a hell of a rich person.

I don't like manipulation, so I'm not buying nor selling based on this.

Yeah me too, mass speculation does not matter to me at all, I'll just let my bitcoins sit until 2040  

[stompix]

Some people have a serious fetish of what others do with their coins.
How should we call this, coinvoyeurism? 

Remember what BTC is about?
Your coins, your property, you are free to do whatever you want with them, there is no bank limiting how much you can transfer, no maximum amount per purchase, no broker limiting your sell orders, no fixed hour when exchange close for the day, if you own your coins you're free to do whatever you want with them and it's nobody else's business!

A lot of people talk about privacy, about hiding how many coins you have and not telling anybody about them but when a transfer like that happens...who is that, who is that, let's find out!!! Leave no stone unturned till we expose this guy or company.

Besides, if you count all the tx at whalealerts you're already way past 21 million coins, probably close to 21 trillion!

[bitbunnny]

Some people have a serious fetish of what others do with their coins.
How should we call this, coinvoyeurism? 

Remember what BTC is about?
Your coins, your property, you are free to do whatever you want with them, there is no bank limiting how much you can transfer, no maximum amount per purchase, no broker limiting your sell orders, no fixed hour when exchange close for the day, if you own your coins you're free to do whatever you want with them and it's nobody else's business!

A lot of people talk about privacy, about hiding how many coins you have and not telling anybody about them but when a transfer like that happens...who is that, who is that, let's find out!!! Leave no stone unturned till we expose this guy or company.

Besides, if you count all the tx at whalealerts you're already way past 21 million coins, probably close to 21 trillion!

Yeah, people are always curious about other peoples'l lives, it's more interesting than their own. Similar is with coins, they always want to know how much one has, what he does with that coins, why etc. And of course they want to share this with everyone, although I can't understand what is the use of it.
And they they wonder why Satoshi hasn't revealed his true identity. When you see all.this it's very clear why and it's very smart to stay hidden.

[dothebeats]

I don't really understand what's the fuzz on peopw/organizations moving large sums of bitcoin from A to B? It could be a number of reasons but whatever it is, it certainly doesn't need our attention or intervention. Their coin, their rules, and giving too much attention on such events certainly decreases the privacy of those who sent and received it in some way, as some people would likely snoop and trace on these taints and that's just uncool.

Should there be a drop ny tomorrow, then there be a drop. We can't control the markets anyway, and the person who must have sold that probably needs the money--again way out of our control.

[DarkDays]

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

I always consider the Bitcoin market to be highly manipulated. If traders start assuming a large transaction is going to lead to a drop in price, it can be used for manipulation too. All that "the whale" has to do, is transfer a large amount, and the price drops, even without selling anything!
I don't like manipulation, so I'm not buying nor selling based on this.

I don't think people actually react in this way. Like, selling out simply because they suspect a mass liquidation is on the way—though it's certainly possible.

I think it's more like a large sale can be used to create a huge red wick that'll stop out a crap load of longs and cause a liquidation cascade.

Similar events have been seen on BitMEX, and most major traders cross-trade over multiple exchanges for both spot and futures markets.

Would be interesting to get an insiders view on whether these large transfers to exchanges do actually get liquidated though. If your suspicion is right we should see an equally large withdrawal shortly after the dip once the whale got what he wanted.

[ololajulo]

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

I always consider the Bitcoin market to be highly manipulated. If traders start assuming a large transaction is going to lead to a drop in price, it can be used for manipulation too. All that "the whale" has to do, is transfer a large amount, and the price drops, even without selling anything!
I don't like manipulation, so I'm not buying nor selling based on this.

Some opinion says this could cause a price breakout beyond the resistant $10k, I just wonder why those transfer are generating so much awareness and news, I also think the withdraw is more of hoarding and creating a level of scarcity which understandably a pumping factor. Even in this year we have cases of such withdrawal that caused the spike in price, lets watch out the price response couple of weeks