Crypto tracking platform Whale Alert has reported that over the past twenty-two hours, several jaw-dropping portions of Bitcoin has been moved on the BTC blockchain by anonymous crypto whales.
Four Bitcoin wallets have taken part in the aforementioned transfers, with one of them sending Bitcoin on after receiving it.
Three stashes have been moved, according to the Whale Alert team: two transfers of 11,325 BTC and one transaction carrying 11,203 BTC (the most recent one, which happened four hours ago).
— Whale Alert (@whale_alert) August 5, 2021
The first two occurred consecutively approximately twenty-two hours ago.
The fiat equivalent of the total 33,853 BTC constitutes a whopping $1,298,892,215. At the time of writing this, the flagship cryptocurrency is trading at $38,954 as per the data provided by CoinMarketCap.
After reaching a peak in the $42,300 zone on August 1, Bitcoin has dropped and been unable to recover to that level and surge higher.
Various bearish factors with the statements of US lawmakers – Senator Elizabeth Warren and the chairman of the SEC, Gary Gensler, both demanding harder regulation for cryptocurrencies – and Binance ceasing to trade Bitcoin derivatives in Europe have been holding BTC below $40,000.