Read

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Prominent on-chain data tracker Whale Alert, which monitors large cryptocurrency transactions, has spotted a <a href="https://u.today/600-million-bitcoin-transfer-stuns-major-us-exchange-coinbase" rel="noopener noreferrer nofollow">massive amount of Bitcoin</a> withdrawn from Bybit. This whale currently holds a mammoth $3,569,790,542 worth of BTC. This massive transaction has stirred the crypto community.
This withdrawal took place while Bitcoin continues to trade below the $70,000 price level. Despite Bitcoin’s recent price slump, data reveals that whales continue to stock up on the world’s largest cryptocurrency.
<h2 id="whales-go-on-huge-btc-buying-spree">Whales go on huge BTC buying spree</h2>
The aforementioned data source shared the details of a mysterious anonymous whale shoveling a staggering 2,000 BTC withdrawal from Bybit to his wallet. This amount of the flagship crypto is worth $137,247,624.
Blockchain data shows that this whale now holds a smashing 51,710 BTC in total, which is the equivalent of more than $3.5 billion.
The majority of the comments were bullish and encouraging: “Lessgoo,” “Keep scooping up $BTC on this dip let's get it” and “This dude with a huge wallet won`t sell the next days. Seems to be a good sign.”
Someone even asked, “What tf is cooking.”
<blockquote class="twitter-tweet">
 Including this 2,000 BTC, This wallet has total 51.7K BTC. Address: bc1qa2eu6p5rl9255e3xz7fcgm6snn4wl5kdfh7zpt05qp5fad9dmsys0qjg0e— misterpk (@khemkhao) <a href="https://twitter.com/khemkhao/status/1853348868270039287?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2024</a>
</blockquote>
According to another on-chain data source on the X social media platform, Lookonchain, since Nov. 1, five large whales purchased 2,780 BTC (worth almost $200 million in fiat) cumulatively.
Per @Lookonchain’s tweet, 880 BTC was withdrawn from Binance – this is where all five purchases were made. This whale currently holds 1,381 Bitcoins worth $95.12 million. The second whale bought 615 Bitcoins, moving them to his private wallet. A total of 595 BTC was withdrawn from Binance by the third wallet on this list – that is, $41.38 million.
<blockquote class="twitter-tweet">
 As <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> drops below $70,000, whales are still accumulating <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>!5 whales has accumulated 2,780 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($192.4M) since Nov 1.1DL34f withdrew 880 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($61.18M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at $69,519 and currently holds1,381 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($95.12M).bc1qw0 withdrew 615 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($41.7M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at… <a href="https://t.co/SICXpxae9o" rel="noopener noreferrer nofollow">pic.twitter.com/SICXpxae9o</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1853334986000302393?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 4, 2024</a>
</blockquote>
The fourth and the fifth whales bought 550 BTC (worth $38.68 million), and 140 BTC (valued at $9.48 million). One of those purchases was made while Bitcoin changed hands at $70,328. The rest of the BTC chunks were bought below it.
<h2 id="bitcoin-price-plunges">Bitcoin price plunges</h2>
Between Friday and Sunday, the leading digital currency witnessed a loss of almost 5%, plunging from above the $71,200 zone to the $68,000 level. Over the past 24 hours, Bitcoin has managed to partially pare its losses and recover by 1.99%. It is changing hands at $69,060 as of this writing.
Experts believe that the strong volatility now is being caused by the deep level of uncertainty due to the upcoming U.S. elections. <a href="https://u.today/51710-bitcoin-whale-withdraws-2000-btc-from-bybit-community-abuzz" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

51,710 Bitcoin Whale Withdraws 2,000 BTC From Bybit – Community Abuzz

Table of Contents

U_Today

Other articles published on Nov 4, 2024

Court Announces New Deadline for SEC: XRP Case Appeal Can Still Be Dismissed

EarnBet.io Sets New Benchmark with $2 Billion in Player Winnings and Unmatched Rewards Programs (...

Baking Soda Labs Launches Web3 Platform Turning Engagement into Rewards

Monthly Progress Report — October 2024

Robert Kiyosaki Warns of U.S. Banking Sector Crash

5 Altcoins That Could Skyrocket If Trump Wins the Election

Join our free newsletter for daily crypto updates!