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 Here’s Where Bitcoins Are Going

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$BTC

“Whale Alert says an affluent crypto holder moved Bitcoin worth $319,120,100 Thursday”–Paul Ebeling

The address has received a total of 55,688 BTC since February and is currently holding 20,890 Bitcoin worth $482,863,640 at time of writing.

Another unknown whale also moved large amounts of Bitcoin to crypto exchange Coinbase in a series of transactions Thursday.

Whale Alert says Coinbase also transferred 16,983 BTC on that same day.

CryptoQuant CEO Ki Young Ju shares his insights on the uptick in whale movements.

“When fear hits the BTC market, whales are active in exchanges for various reasons. The uptick in June this year seems to have borrowed BTC to fill up collaterals for long positions if you see its heavy flows between spot and derivative exchanges.”.

He says the increase in whale activities could be an indicator that the market has hit the bottom.

“I usually mentioned this as a cyclic bottom signal since it represents oversold. Not sure how this would go in this macro environment.”

A tip of my hat to sovereign individuals with satoshis and Bitcoin in cold storage with our firm. Click here

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Have a prosperous weekend, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.