Bitcoin ETF

Bitcoin

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In an eye-catching move, nearly half a billion dollars worth of&nbsp;<a href="https://u.today/leading-satoshi-candidate-passed-away-10-years-ago" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> left leading U.S. crypto exchange Coinbase today, to an unknown destination.
As confirmed by Whale Alert, 7,999 BTC, equivalent to around $472.8 million, were withdrawn from the exchange's cold wallet and sent in multiple transactions to an address with the code "13F8P8."
However, this was not the final destination, as this colossal amount of cryptocurrency was then sent to 50 other unknown addresses in exact portions of 157 BTC, or $9.27 million in current prices.
<blockquote>
 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 7,999 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (472,800,936 USD) transferred from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> to unknown new wallet<a href="https://t.co/JpTZrczHJE" rel="noopener noreferrer nofollow">https://t.co/JpTZrczHJE</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1828952726207652228?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 29, 2024</a>
</blockquote>
What is behind the activity remains unknown, but one thing is for sure: it is remarkable. Who knows, maybe it is one of the Bitcoin ETF issuers like BlackRock, which continues to accumulate cryptocurrency despite all the recent drawdowns and roller coaster price action.
<h2 dir="ltr" id="bitcoin-btc-price-outlook">Bitcoin (BTC) price outlook</h2>
What is more, the&nbsp;<a href="https://u.today/1-million-bitcoin-samson-mow-makes-important-btc-statement" rel="noopener noreferrer nofollow">price of Bitcoin</a> fell below the critical $60,000 level in the last 24 hours, which may seem like a discount to some market participants. The reason behind the fall can be named as a disappointment from Nvidia's quarterly report, which resulted in a dump of the major tech stock.&nbsp;
As a result, the cryptocurrency itself, as a beta to tech stocks, also fell.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="f9869b5a-b0d0-41ba-9f2a-6b109560d1e3" src="https://u.today/sites/default/files/inline-images/btcprice_9.png">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Currently,&nbsp;<a href="https://u.today/ethereum-eth-hopes-are-gone-bitcoin-btc-crashes-down-as-price-returns-to-200-ema-bearish-shiba-inu" rel="noopener noreferrer nofollow">Bitcoin</a> is trading at $59,500, and the question on everyone's mind is whether it will make a new low. The odds of this happening seem equal, as the lower high is already in, but the previous low was at $49,000 and was a painful one.&nbsp;
Will the market ever provide such an opportunity again? Or will the whales, like the recent half a billion dollar buy, not let it happen? These are the questions that need to be answered in the near future.

Nearly $500 Million Bitcoin Withdrawal Stuns Major US Exchange

Table of Contents

U_Today

Other articles published on Aug 29, 2024

TON back online after second DOGS-related outage in 36 hours

Bitcoin Faces Pivotal 69-70 Thousand Dollar Resistance

Binance Coin (BNB) and Chainlink (LINK) Holders Are Eyeing Rollblock For 200x Gains

Ethereum ETFs Break Nine-Day Outflow Trend with $5.8M Inflow

1,036% Spike in Shiba Inu Token Transaction Fees Stuns Shibarium

Donald Trump Announces New Crypto Project "The DeFiant Ones," Aims to Serve Unbanked Communities

Join our free newsletter for daily crypto updates!