Bitcoin Whales Move BTC to Binance; Dump Incoming?

• BTC whales transacted a huge count to unknown addresses.
• Bitcoin struggles to reach $30K, prolonging its oscillation in a surge.

Being the most popular cryptocurrency, Bitcoin (BTC) has set its back soaring higher compared to the previous year. As per the reports of the whale alert, a huge number of whales are activated transferring Bitcoin, on Thursday with a transaction fee of 0.00002938 BTC worth 0.86 USD. 

The whale has transacted through a hash address called ‘e0732fb6bbd..0638947d11’. Meanwhile, the sender has sent through the cryptocurrency exchange, Binance from ‘178APgmkT6…SiyrH7Fqu6’ to the receiver ‘1PgK9xduNJ…W2wLVTMKiv’. 

A whole of 2,459 BTC at the current market price value of 72,661,201 USD is sent to an unknown wallet in Binance. The crypto community is stunned by such huge BTC transactions and this has brought curiosity to the crypto market. 

Collaboratively, another BTC whale has moved 850.01 BTC to an unknown address with a transaction fee of 0.00002712 BTC (0.79 USD). This transaction happened from another sender address ‘1EZF2PDyLK…ZbxQbfvQ2g’ to the same receiver mentioned above. 

This seems that the receiver from Binance has stacked a set of large numbered BTC in the wallet. This anonymous transaction highlights the most effective whale alert among the crypto community.

Current Status of BTC

According to CoinMarketCap, the price of BTC has surged to 0.58% with the market capitalization worth $572,483,733,903 at the time of writing. Moreover, the trading volume has kept increasing by more than a quarter percent which is exactly 26.29%. 

Bitcoin (BTC) 24H Price Chart (Source: CoinMarketCap)

Throughout the day, the price graph points bullish rather than the bearish state; with a dominating green signal. The BTC miners are facing difficulty yet the trade and demand kept skyrocketing over 92.57% of the current market supply.

When compared to the last 7 days, the market capitalization slopes down from the middle of the week and tries to rush high as possible. Currently, BTC’s market cap ranks the first position in the CMC. 

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