Bitcoin Whales Shift 4,377 BTC From Kraken, What’s Happening?

Bitcoin, the world’s first-ever digital currency, curated in 2009, recently gained substantial traction across the broader crypto market on Saturday as the token recorded significant whale transfers from Kraken to unknown wallets. Notably, as per on-chain data surfacing within the broader crypto market, a whopping 4,377 BTC have been shifted from Kraken, a CEX, to unknown wallets through a series of transactions.

Furthermore, these transactions promptly caught the eyes of crypto market enthusiasts globally, as it emerged within the market amid Bitcoin’s price drop. Meanwhile, a leading crypto analyst spotlighted the token’s current market dynamics, stressing key events this year and propelling optimism for Bitcoin’s market run shortly ahead.

BTC Whale Transactions: In-Depth Report

According to the data unveiled by Whale Alert, a blockchain tracking platform, eight significant transactions collectively attributed to the shifting of 4,377 BTC from Kraken to unknown wallets in the past 24 hours. Furthermore, as per the data, the first transaction that piqued traders’ interest shifted 534 BTC, worth $23.30 million, from Kraken to an unknown address. Simultaneously, the second transaction showcased the moving of 471 BTC from Kraken to another unknown new wallet.

Meanwhile, the third, fourth, fifth, and sixth transactions transferred 616, 691, 483, and 508 BTC from Kraken to unknown wallets, respectively. Lastly, the seventh and eighth transactions moved 565 and 509 BTC from Kraken to unknown addresses. Intriguingly, all the aforementioned transactions collectively moved Bitcoin worth $191.09 million, sparking immense curiosity among crypto market fanatics.

Also Read: VanEck Advisor Highlights Long-Term Potential Of Spot Bitcoin ETF

Bitcoin Price Tumbles

As of writing, the Bitcoin price showcased a marginal drop of 0.51% over the past 24 hours and is currently resting at $443,741.23. However, its weekly chart portrayed a jump of 4.23%, fueling additional inferences for the token.

Meanwhile, analyst Ali Martinez shed light on Bitcoin’s current market dynamics. As per Martinez, regardless of what happens with the spot Bitcoin ETF, the token is yet to see another bullish narrative this year, the Bitcoin halving. Furthermore, Ali spotlighted how the halving has historically proved itself to be a catalyst for significant price surges.

Also Read: Lido DAO (LDO) Price Hits New Highs In Extended Rally

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