In a surprising turn of events, an anonymous wallet has orchestrated a substantial Bitcoin transfer, totaling an impressive 10,000 BTC, to Binance, the world’s leading crypto trading platform by volume. This monumental transaction is valued at a staggering $345,041,344 at the time of execution, as reported by the Whale Alert crypto tracking service in a recent X post.
The motive behind this transfer is to sell digital assets, and it comes on the heels of a significant development in the cryptocurrency market. The Fear and Greed Bitcoin Index, a pivotal metric indicating market sentiment, recently transitioned into the Greed zone with a reading of 70. This shift in sentiment suggests a potential overheating of the market, prompting investors to consider capitalizing on their gains and anticipating an imminent correction.
Source: Alternative.me
Huge Bitcoin Movements
In a remarkable sequence of events, this latest substantial Bitcoin transfer mirrors a recent extraordinary occurrence where a significant 7,000 BTC found its way to the Bitfinex exchange on the very same day. It’s worth noting that, like the current transfer, an anonymous whale orchestrated this prior transaction, a detail meticulously tracked by Whale Alert.
Further adding to the intrigue, an impressive total of 10,775 BTC made its way to the largest U.S.-based exchange, Coinbase, facilitated through five discrete transactions. As of the present moment, this substantial crypto holding commands an impressive valuation of $374,025,032
Since the remarkable 15% surge observed on Monday, October 23rd, propelling Bitcoin from $30,000 to the $34,500 range, the flagship cryptocurrency has maintained a relatively stable trading range for nearly two weeks. On November 1st, BTC experienced a 4.40% upswing, briefly touching the $35,702 mark before returning to $34,185.
Source: Tradingview.com
Bitcoin is trading at $35,057, reflecting a 0.57% increase within the last 24 hours, with a 24-hour trading volume of $8,918,157,741. Over the past seven days, BTC has demonstrated a notable 2.75% rise, showcasing the dynamic nature of the cryptocurrency market.