On July 15, prominent on-chain analyst Yu Jin reported a significant transaction involving a long-dormant Bitcoin whale holding 80,000 BTC. This investor, inactive for 14 years, transferred 40,010 BTC valued at approximately $4.69 billion to Galaxy Digital, with an average transfer price near $117,391 per Bitcoin. Despite this substantial movement, the whale retains a remaining balance of 40,000 BTC, worth around $4.67 billion, which remained untouched during the transaction. Such large-scale transfers to institutional platforms like Galaxy Digital highlight ongoing shifts in market dynamics and liquidity flows within the cryptocurrency ecosystem. This development underscores the importance of monitoring whale activity to gauge potential impacts on Bitcoin’s price stability and market sentiment.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024