Bitcoin, the world’s first-ever digital currency, which was coordinated in 2009, recently gained significant traction across the broader cryptocurrency market on Saturday as the token recorded massive whale transfers from Kraken to unknown wallets. Notably, according to on-chain data within the broader cryptocurrency market, a whopping 4,377 BTC were transferred from Kraken, a CEX, to unknown wallets through a series of transactions.
Moreover, these transactions immediately caught the attention of cryptocurrency market enthusiasts globally, as they appeared within the market amid the decline in Bitcoin prices. Meanwhile, a leading cryptocurrency analyst highlighted the current market dynamics of cryptocurrencies, highlighting the key events this year and urging optimism about the Bitcoin market in the near future.
BTC Whale Transactions: In-depth Report
According to data revealed by Whale Alert, a blockchain tracking platform, eight significant transactions are collectively attributed to the transfer of 4,377 BTC from Kraken to unknown wallets in the past 24 hours. Moreover, according to the data, the first transaction that aroused traders’ interest transferred 534 Bitcoin, worth $23.30 million, from Kraken to an unknown address. At the same time, the second transaction showed the transfer of 471 Bitcoins from Kraken to another new, unknown wallet.
Meanwhile, the third, fourth, fifth, and sixth transactions transferred 616, 691, 483, and 508 BTC from Kraken to unknown wallets, respectively. Finally, the seventh and eighth transactions transferred 565 and 509 Bitcoins from Kraken to unknown addresses. Interestingly, all the above transactions collectively transferred $191.09 million worth of Bitcoin, sparking massive curiosity among cryptocurrency market fanatics.
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Bitcoin price is falling
As of the time of writing, Bitcoin price has shown a marginal decline of 0.51% over the past 24 hours and currently rests at $443,741.23. However, the weekly chart showed a jump of 4.23%, which brought additional conclusions for the token.
Meanwhile, analyst Ali Martinez highlighted the current Bitcoin market dynamics. According to Martinez, regardless of what happens with the Bitcoin ETF, the token has yet to see another bullish narrative this year, namely the Bitcoin halving. Furthermore, Ali highlighted how halvings have historically proven to be a catalyst for significant price rises.
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