The choices from the Bitcoin market suddenly transferred hundreds of millions of dollars in BTC resources to the blockchain.
The Bitcoin choice makes some surprising moves
April 16, a tool for analyzing the Bitcoin blockchain, Bitcoin Block Bot, recorded an interesting transaction. The mysterious unit transferred a total of 9,610 BTC worth over USD 603 million from several addresses to two wallets. He only paid $ 24 for it.
Election warning! 🐋 Someone moved 9610 BTC ($ 596 million) in block 679,442 https://t.co/m3KlyQ8n06
– Bitcoin Block Bot (@BtcBlockBot) April 16, 2021
Blockchain.com shows that the wallet that received 9,000 BTC has a history of 31 transactions. Currently, there is a huge fortune of as much as 62,601 BTC on it. The second wallet with a total of 610 BTC has a history of a single transaction. Both receiving wallets could not pay their BTC.
BitInfoCharts reveals that wallets were among the richest wallets that existed before these transactions. As of this writing, both sending wallets are empty.
To date, none of the addresses we describe have been associated with known cryptocurrency individuals or organizations. It is important that the sent BTC did not go to the stock exchange, where it could be sold on the open market. The transfer takes place while Bitcoin still has a market value of over 1 trillion dollars.
The beginning of the end of the bubble?
Web data analyst Willy Woo says the Bitcoin market is undergoing a massive delivery shock, similar to the depletion of shares in 2017.
We can see this by tracking coin flows from stock exchanges where people usually speculate, buy and sell their coins, have a fixed inventory, some of which are dedicated to speculation. We have just seen an unprecedented depletion of these resources.
If you look back at the bull market in 2017, we saw a five-month period of inventory consumption and that was enough to push the bull market in 2017 to 20,000 dollars from what was originally about 1,000 to 1,500 dollars (…)
– he said.
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