RATE Group | Over $5 Billion Worth of Bitcoin Moved in Minutes; What Happened?
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Over $5 Billion Worth of Bitcoin Moved in Minutes; What Happened?

06 Dec Over $5 Billion Worth of Bitcoin Moved in Minutes; What Happened?

Posted at 12:47h in Bitcoin News by

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If you’ve been on Crypto Twitter at all over the past few hours, you’ve likely noticed a lot of buzz about Bitcoin, specifically large BTC transactions. CoinDesk’s Wong Joon Ian noted that “either @whale_alert (a bot tracking large and suspicious cryptocurrency transactions) is broken or several billion worth of BTC just moved around in a few minutes.”

Indeed, Whale Alert registered a series of over 10 transactions of over 50,000 BTC (worth over $400 million as of the time of writing this) in the span of some twenty minutes.

Many analysts quickly reacted to the transactions, making claims that they signify that the Bitcoin price bottom is in, or that a strong BTC drop is about to take place. Unfortunately for traders, the transactions likely mean none of that.

Related Reading: Bitcoin’s Macro Outlook is Insanely…

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