Moving large sum of bitcoin

[kawetsriyanto]

I just googled the address, and apparently, it belongs to Bittrex ~

If the address is owned by Bittrex, I don't think it is surprising news to know big numbers of bitcoins. Bittrex is a big exchange and potentially to have that amount of BTC. However, it is interesting to know why they moved the big numbers of Bitcoins. Will they move it to a safer place? or have the intention of price manipulation? Not sure to answer this,. 

[1715117484]

1715117484

[BChydro]

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?

Even if these huge amounts of bitcoins are moved to sell, you cannot see those in the exchanges, they might be selling through OTC rather than sending those to exchanges and there are multiple millions of dollars worth of transactions are taking place outside the public exchanges and hence there is nothing to worry if that is the case as it will not have a big impact on the market valuation.

[BITCOIN4X]

Traders and investors seem to be affected by this large transaction and it is proven that the price of bitcoin has dump because of it. Traders and investors are always on the lookout for large transactions like this in an effort to avoid big losses and they start selling their assets which causes prices to dump.

I do not know whether the current decline in the price of bitcoin is a market reaction to speculation that many people are afraid that the price of bitcoin will dump if all the bitcoin transactions are sold in the market, but until now all the bitcoins in the transaction are still stored in the wallet. Only a fool would send a bitcoin worth hundreds of millions of dollars to exchange, it would only cause a price reduction before all the bitcoins were sold and this would be a very bad investment.

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

[shata]

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!

Its not about the person /organization behind; but the concern of an overall market impact that may rise due to certain huge transfers.

Anyways, everyone is concern as to what could possibly its effects to mitigate market situation in their/our own economic perspective (investments).

Its everybodys' business.

[seoincorporation]

With a balance of 43,935 BTC that addy is crazy, it could be the hot wallet of an exchange or miners holding's addy. It is hard to know.

But is a huge amount, that's a fact, and is fun to see how the markets crashed today, coincidence? i don't think so.

[The Cryptovator]

I am assuming that probably yesterday dump happened for this whales move. There is high chances that sent address is belongs to an exchange either exchange move their fund themselves to another wallet address. Because if exchange use new genarated address then likely it hasn't marked yet. Because from my previous experience bitcoin react (pump or dump) when happen something similar bitcoin whales movement. This is one of important symptom of manipulation of bitcoin price.

[Slow death]

this cryptocurrency market seriously needs to be studied by many experts in the field of psychology. Most people talk a lot about privacy, but there are constantly people monitoring addresses that have more bitcoins, where is the privacy issue here if we have bitcoin address paparazzi? and that kind of thing just creates fear in people and the price drops a lot, I know that whales manipulate the price, but it is an exaggeration to have things like "whale Alert" it looks like we have whale paparazzi

Some people have a serious fetish of what others do with their coins.

we even have "Whale Alert". I won't be surprised if there is ever an app to alert you when a whale moves too many bitcoins

[KrisAlex18]

Wow, that is a really big amount of money, it feels so nervous when you are the one who is holding that amount of money especially for the beginners or this person who are the first time of holding a big amount of money, but for this person who is used on that thing, there is no doubt and nervous for them holding that kind of money, that is what others hackers and scammers main target, those people who are holding that kind of money is so attractive money the hackers so they should keep is secured.

That's a hell lot of amount in fiat. I doubt it's owned by a 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.

Indeed, I am also thinking that way, holding that kind of money by a single person is really dangerous and can't have by a single person, well that is really big amount of money, maybe it is from a group of people.

[Eugenar]

Wooah, that is so much money, imagine if you are keeping that money, I think you won't work anymore because you already have a big amount of money, better to use it for savings and build a good business.

Maybe the reason why they are going to transfer their money is that they want to have a more secure wallet so they can assure that they are keeping their bitcoin safe. That is really big and so many disappointments when someone steals that kind of money.

[Leviathan.007]

This huge amount usually belongs to exchanges I heard it's was from Bittrex exchange. But don't panic, sometimes the exchanges move the bitcoins in order to make some FOMO between traders. I assume maybe it was related to the recent dump into 9000usd support area. Usually when the market is this situation and huge amounts are moving out the best think to do is to avoid making emotional decisions and emotional trades in order to avoid losing your investments.

[supine]

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.

Yes I was also thinking that it could be someone upgrading their wallet or someone sold it for cash and now securing those Bitcoin on their own wallet.
We don't know what could their reason be for moving such huge amount but they could do whatever they want because it's their money.
Selling crypto offline isn't new so this could be a whale selling their crypto to another whale but it is only my theory.

[kryptqnick]

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.

It's been a day already, but I suppose no big sell deals occurred, as this should've affected the price immensely. We don't know what's going on here, but maybe this transfer doesn't have to do with selling BTC. Maybe it's sent to Binance not for private use, but for Binance operations as a company. It seems to me that big Bitcoin transfers usually end with something like this. I don't follow any whale alerts because I still haven't seen compelling evidence of individuals or groups of individuals pouring in or out tons of BTC to manipulate the price.

[lumeire]

I just googled the address, and apparently, it belongs to Bittrex ~

If the address is owned by Bittrex, I don't think it is surprising news to know big numbers of bitcoins. Bittrex is a big exchange and potentially to have that amount of BTC. However, it is interesting to know why they moved the big numbers of Bitcoins. Will they move it to a safer place? or have the intention of price manipulation? Not sure to answer this,. 

Bittrex was also involved in the price manipulation of Tether and bitcoin lawsuit against them in the past and the proofs coming were actually convincing me that they were responsible for price manipulation and unfair practices. I don't think that Bittrex would again try to do this kind of thing again with such huge supply of Bitcoins and tether in their hands. Maybe they would be moving these coins to an offline wallet so as to make them more secure and less prone to attacks.