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- Bitcoin exchange moves $345,262,395 from Coinbase to cold wallets
Santiment, an on-chain data company, stated in a tweet that it is possible that Bitcoin’s price will continue to rise this month, and that other cryptocurrencies may follow suit. The requirement for key crypto holders to continue purchasing the flagship digital currency, Bitcoin, makes this feasible. As the news of the Fidelity-led refiling of the Bitcoin ETF spread, the Santiment team tweeted that cryptocurrency whales and sharks had accumulated a “big chunk” of Bitcoin over the past two weeks. According to Santiment, they have collectively purchased 154,500 BTC in the past seven weeks. Presently, wallets holding somewhere in the range of 10 and 10,000 BTC hold 13 million Bitcoins — that is 67% of the stock available for use. There are just 21 million BTC that can be extricated and in excess of 19 million have proactively been mined at this point.
Bitcoin exchange moves $345,262,395 from Coinbase to cold wallets
As announced by crypto tracker Whale Ready, around five hours prior, unknown wallets moved approximately 21,700 BTC from the Coinbase trade to cold wallets. That was two Bitcoin exchanges worth $314,678,605 and $345,262,395, separately.
According to the Wall Street Journal report, the recent batch of spot Bitcoin ETF filings have been labelled “inadequate” by the U.S. securities regulator, implying that they lack clarity and comprehensiveness. As a result, the Securities and Exchange Commission (SEC) has scrutinised BlackRock, Fidelity, and other financial institutions’ most recent filings.
Source: https://www.cryptoknowmics.com/news/julys-big-reason-for-bitcoins-btc-continued-rise-revealed-by-santiment