A notable transfer of Bitcoin (BTC) valued at $231.45 million has recently attracted attention. Thus, Whale alert reported that an entity identified with the address “bc1qc” executed the transaction, transferring 3,250 BTC to Kraken, a major cryptocurrency exchange in the United States.
A notable transfer of Bitcoin (BTC) valued at $231.45 million has recently attracted attention. Thus, Whale alert reported that an entity identified with the address “bc1qc” executed the transaction, transferring 3,250 BTC to Kraken, a major cryptocurrency exchange in the United States.
The history of the sender address, “bc1qc”, reveals limited information. His initial transaction occurred in March 2024, receiving 0.002 BTC from another unidentified and now empty wallet. Closer examination of the transaction chain shows a series of exchanges between several unknown addresses over several months.
This recent transaction represents a significant, but not overwhelming, portion of the wallet’s total holdings. Currently, 20,282 BTC, valued at approximately $1.44 billion, remain stored on “bc1qc.”
Yuri MolchanMarket participants often view such substantial transfers as potential indicators that a major player is preparing to sell its stakes. Transferring Bitcoin to high liquidity platforms like Kraken is common practice before making large sales.
However, it has not yet been confirmed whether this transfer will result in an immediate liquidation. The market impact of such a move could be significant given the large volume of Bitcoin involved.
Bitcoin is approaching its all-time high…again
Despite the substantial transfer, the price of Bitcoin has remained stable and continues to trade above $70,000. This level is only 3.75% below its all-time high, indicating strong market confidence and continued interest from institutional and retail investors.
Gamza KhanzadaevFor now, the focus remains on the rest of the large holdings in the wallet and the potential market moves that could follow.
