[Coin World] Another Whale has made a move! Just monitored a significant action—4670 BTC directly dumped into Kraken from a mysterious Address, which amounts to approximately 405 million USD at current prices.
Transfers of this magnitude usually have a few possibilities: either institutions are rebalancing their portfolios, or they are preparing to dump and cash out. After all, transferring to an exchange typically means selling, which could put some selling pressure on the market in the short term.
Of course, it cannot be ruled out that market makers are managing liquidity, but this scale is still worth paying attention to. Recently, there have been frequent large transactions on-chain, so it is recommended that everyone pay attention to the price fluctuations of BTC.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
10 Likes
Reward
10
7
Repost
Share
Comment
0/400
ColdWalletAnxiety
· 12-01 23:49
Here they come again, these whales just keep causing trouble every day, I don't even dare to take out my Cold Wallet.
Dumping? Or is it just rebalancing? To put it bluntly, someone wants to cash out, and we retail investors can only buy the dip and gamble on luck.
With such a large amount flowing in, we really have to be cautious in the short term, or else we'll be played for suckers again.
View OriginalReply0
token_therapist
· 12-01 23:43
Wait a minute, suddenly 4670 BTC is smashed in, this Whale must be in dire need of money, haha
It's going to start the mindset pump again, whether to buy the dip or buy the mountain top all depends on these few days.
View OriginalReply0
OnChainDetective
· 12-01 23:39
ngl, that "mysterious address" narrative is getting tired... traced it through three hops already and the clustering indicators suggest institutional rebalancing, not a dump. but yeah, the volume spike on kraken order books will prob matter more than the transfer itself 🤔
400 million dollars! 4670 BTC suddenly transferred to Kraken, is the Whale going to dump?
[Coin World] Another Whale has made a move! Just monitored a significant action—4670 BTC directly dumped into Kraken from a mysterious Address, which amounts to approximately 405 million USD at current prices.
Transfers of this magnitude usually have a few possibilities: either institutions are rebalancing their portfolios, or they are preparing to dump and cash out. After all, transferring to an exchange typically means selling, which could put some selling pressure on the market in the short term.
Of course, it cannot be ruled out that market makers are managing liquidity, but this scale is still worth paying attention to. Recently, there have been frequent large transactions on-chain, so it is recommended that everyone pay attention to the price fluctuations of BTC.