By Tobi LobaAccording to Whale Alert, there were movements of huge BTC by a supposed Bitcoin Whale from an unknown wallet to another 5 different unknown wallets within 7 minutes.
After a closer look into the transfers, it was noticed that the transactions were effected by one Bitcoin Whale, which makes the huge movements significant.
The Huge Transfers Were Made In Turns
Going by the account of Whale Alert, the first transfer was 50,041.92 BTC worth $367,982,600, and it was effected on Tuesday, 7th April 2020, at 02:39:23 UTC, from 3AoKSAiCMFHP6HDZw9pXtRiaCwAyUefwEf to 3PziAkX2EGqRro3dU5VS5aGEuRfKnKmTyd.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 50,042 #BTC (367,982,598 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 7, 2020
The second transfer was the sum of 49,941.92 BTC worth $367,247,260 USD, and it was effected at 02:39:23 UTC, from the destination wallet 3PziAkX2EGqRro3dU5VS5aGEuRfKnKmTyd to another unknown wallet 35tzwERcEEUV5Az9ebogmDrQ2pz4LtmrxA.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 49,942 #BTC (367,247,249 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 7, 2020
The same Bitcoin Whale went further to transfer the sum of 49,841.92 BTC, which was effected at 02:39:23 UTC, from the destination wallet 35tzwERcEEUV5Az9ebogmDrQ2pz4LtmrxA to 3MBxQT3TFWmTbWHPTHTEE76Emm5pbLRgCu.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 49,842 #BTC (366,511,900 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 7, 2020
The fourth transaction was the sum of 49,741.92 BTC worth $365,776,540 USD at the time of transfer, and it was sent at 02:39:23 UTC, from the destination wallet 3MBxQT3TFWmTbWHPTHTEE76Emm5pbLRgCu to an unknown wallet 3QPKFmvSQvi4KNi8VRUCCSpVCmT6K2ziY2.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 49,742 #BTC (365,776,551 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 7, 2020
The last transaction according to Whale Alert was the exact sum of BTC moved in the fourth transaction. And it was effected at 02:39:23 UTC, from 3QPKFmvSQvi4KNi8VRUCCSpVCmT6K2ziY2 to 3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 49,742 #BTC (365,776,551 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) April 7, 2020
As recounted by Whale Alert, which was illustrated above, it implies that the transfers took the Bitcoin Whale about 7 minutes. The reason behind this suspicious movement of funds has become a subject of debate among the cryptocurrency enthusiasts on Twitter.
However, as generally believed, these huge transactions could be from a cryptocurrency exchange for the security of funds. But the significance of Whale movements on Bitcoin price cannot be thrown underfoot. And the impact of manipulation of Bitcoin Whales in the past has tended people’s interest in their activities.
Bitcoin (BTC) Price in the Market
Bitcoin (BTC), the largest cryptocurrency by market capitalization, is leading the way perfectly well in terms of price appreciation. And some other cryptocurrencies in the market are replicating.
A couple of hours ago, Bitcoin surpassed $7,000 mark. Its stability above the support level indicates a further price increase. At the time of filing this report, BTC is trading at $7,305.91, with a 6.24% price upsurge in the last 24 hours.