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Unknown entity moves $413 million worth of Bitcoin for a $33 fee

Large crypto entities are definitely up to something, with the prevailing price seen at the world’s flagship crypto, Bitcoin, trading above $33,000.

Bitcoin

Bitcoin

As Bitcoin’s price trades above $33,000, an unknown Bitcoin whale moved about $413 million worth of cryptos.

According to Whale Trades, a crypto analytic tracker, a large crypto entity moved $412,928,523.14 (12,642.27 BTC) for a fee of $32.66 (0.00100000 BTC) some hours ago.

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What this means: This is a signal that more high-net-worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.

https://twitter.com/WhaleTrades/status/1345904990074806273?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1345904990074806273%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnairametrics.com%2F2021%2F01%2F04%2Funknown-entity-moves-413-million-worth-of-bitcoin-for-a-33-fee%2F

  • Bitcoin accumulation has been on a constant upward trend for months.
  • Nairametrics believes the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto’s recent highs.
  • While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.
  • At the time of writing this report, Bitcoin traded at $33,134.51 with a daily trading volume of $81.2 billion. Bitcoin is up 2.34% for the day.
ALSO READ >>  Entity transfers $239 million worth of Bitcoin, as BTC drop to $31,000

Also, it’s key to note, Bitcoin’s liquidity is getting squashed, on the bias that global investors are hoarding, meaning accessible BTC is becoming scarcer. 1 million Bitcoins have become illiquid this year, i.e. are held by entities that spend < 25% of coins they receive.

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