• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Bitcoin News / Bitcoin Whale Moved Over $337 Million After Transferring 7,073 BTC
Bitcoin Whale Moved Over $337 Million After Transferring 7,073 BTC

Bitcoin Whale Moved Over $337 Million After Transferring 7,073 BTC

February 28, 2021 by Chayanika Deka

Bitcoin Whales appeared to be been cashing out which snowballed into and unbearable selling pressure in the market.

February has been historically corrective for Bitcoin. Over the past week alone, the crypto-asset lost more than 20%. and was down to $45,381.

Accompanying yet another daily correction was an unknown wallet transfer with a significant amount by a Bitcoin whale who happens to be the 241st largest wallet of the cryptocurrency.

This was revealed by the blockchain tracker ‘Whale Alert’ which notified the transfer of more than 7,000 Bitcoin by an anonymous whale which was then worth approximately $337 million.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 7,073 #BTC (337,807,244 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/ZZnwD9clqP

— Whale Alert (@whale_alert) February 27, 2021

The transaction in question was made at 01:53 UTC from an unknown wallet to another unknown wallet.

Besides, Bitcoin has had an exceptionally trying week and the sell-offs have coincided with several other whale movements. Due to the anonymity of the Bitcoin whale transfers, they were either speculated as institutions moving coins to cold storage, or huge over-the-counter [OTC] trades or internal transfers between exchange wallets.

What sparked even more curiosity was some really ancient Bitcoin whale movements whose coins were lying dormant for more than a decade.

Willy Woo’s Take On Bitcoin Whale Movement

Whale movements can sometimes jolt the markets. For instance, a Bitcoin whale movement back this past December sung the crypto-asset’s price just as it crossed $20,000. According to an expert, however, the series of panic sell-offs that shook the market this February was was due to falsely generated concerns regarding a whale dumping.

In a recent interview on What Bitcoin Did, the popular on-chain analyst and market researcher, Willy Woo claimed that incorrectly spawned market concerns over a whale dumping $1.5 billion in Bitcoin is what likely generated the panic sell that eventually resulted in the cryptocurrency’s price drop to a low of $45,230 on the 26th of February.

Woo, along with Glassnode CTO Rafael Schultze-Kraft went on to confirm the transaction in question was merely an internal transfer of the exchange’s funds.

He said,

“I was trying to figure out this big sell-off. And, you know, the very peak of it started when there was a little alert that we had $1.5 billion that just moved onto the exchanges to sell… the assumption was to sell. And I think that spread amongst traders and we started to see the sell-off preempting that.”

Filed Under: Bitcoin News, News Tagged With: Bitcoin (BTC), Bitcoin Whales, Willy Woo

Primary Sidebar

Recent Posts

  • Cryptocurrency Presale of the Year: Bitcoin Solaris Raises $5M as Investors Rush to Secure the Next Bitcoin Before Prices Soar June 22, 2025
  • Polygon Celebrates Enterprise Deals While Lightchain AI Celebrates Real Adoption From Builders June 22, 2025
  • SUI Loses Neckline Support: Analysts Warn of Further Downside June 22, 2025
  • Chainlink Comeback Possible? LINK Eyes Recovery Toward 0.0001576 BTC June 22, 2025
  • PEPE Shows Potential: Bullish Momentum Builds Toward $0.000016 Area June 22, 2025

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2025 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.