Whales Move Bitcoin Worth Hundreds of Millions – What to Expect?

A significant Bitcoin transfer recently drew the attention of crypto watchers, with 1,600 BTC, valued at over $108 million, moving from an unknown wallet to a new, undisclosed address.

This transfer was identified by Whale Alert, and as the name suggests, it is a service that tracks substantial cryptocurrency transactions. Over the past 12 hours, Whale Alert has observed five other major Bitcoin transfers, including transactions of 1,500, 1,800, 2,000, and 2,100 BTC, all occurring between unknown wallets.

These substantial transfers could hint at a long-term holding strategy, potentially moving funds to cold storage, which can reduce selling pressure and lend stability to market prices. Alternatively, they might be connected to over-the-counter (OTC) trades, although the exact purpose remains uncertain. The activity may suggest preparations for substantial shifts in the market.

Meanwhile, Bitcoin’s broader market activity has slowed, with fewer wallets now empty. According to Santiment, the number of active BTC wallets has fallen to 211,540—a pattern historically tied to market hesitation that often precedes bullish movements. At this time, Bitcoin’s price stands at $68,873.

READ MORE:

Could Ethereum Follow Amazon’s Path to Dominance?

Additionally, spot Bitcoin exchange-traded funds (ETFs) saw their largest daily outflows on record, with Bloomberg reporting a collective withdrawal of $579.5 million across 12 Bitcoin ETFs, including those managed by BlackRock and Fidelity.

Alexander Stefanov