Jaw-dropping amount of BTC has been shifted from Coinbase to anonymous crypto wallets, while BTC is down 8%
Three Crypto Transactions Carrying Massive Amounts of BTC Have Been Detected by a Popular Crypto Tracking Service Whale alert.
According to several tweets published by the platform, over the past 10 hours, several substantial lumps of Bitcoin (each carrying close to 10,000 BTC) have been withdrawn from the publicly traded U.S.-based crypto exchange Coinbase. The total amount of crypto shifted to anonymous wallets comprises over $1.17 billion.
Whales move 30,000 BTC
Whale Alert has detected three massive transfers of Bitcoin from Coinbase to anonymous crypto addresses. Each time, the amount varied within a range of 9,850 to 9,900 BTC with a total of almost 30,000 Bitcoins.
Prior to that, Whale Alert also spotted that a total of 2,102 BTC was moved to Coinbase from anonymous wallets in two transactions: 1,440 BTC and 662 BTC. The total worth of this amount of crypto in fiat is $81.4 million.
Bitcoin loses 8% in three days
Over the past few days, the main digital currency, Bitcoin, has lost value. Since March 9, it has fallen by more than 8% from $42,540 to the $39,072 level where BTC is trading at the time of writing on the Bitstamp exchange.
“Explosive growth in Bitfinex BTC shorts”
Two sources on Crypto Twitter have spread the word that the amount of BTC shorts on the Bitfinex exchange is experiencing an explosive increase.
Chinese crypto journalist Colin Wu and on-chain analyst Cole Garner cited the Datamish platform which aggregates data on crypto longs and shorts.
Wu has reported that in the past few hours, several big investors (possibly financial institutions, he believes) have borrowed around 1,500 Bitcoins for opening short positions.
At the time the tweet was posted, the reporter pointed out, 3,063 BTC had been loaned out.
Garner, who shared a screenshot from Datamish, assumed that a capitulation might be coming.
