A close to half a billion USD has been sent to Coinbase from an anonymous wallet while BTC has managed to recover a tiny bit of its recent losses
Whale Alert, a popular cryptocurrency tracking service that publishes data on large crypto transactions, reported that just over 23 hours ago, an anonymous wallet owner sent 9,800 Bitcoins to the exchange. Coinbase.
This is the equivalent of $428,608,220 at the recent exchange rate.
Whale pushes BTC to sell at a loss
According to BitInfoCharts, this wallet acquired 10,000 Bitcoin on April 1. At the time, BTC was trading at $44.891. Now, as the price peaked at $47,476 on April 3 and has lost 10.46% since then, this whale has been selling BTC at a loss. The wallet does not contain any coins now.
At the time of writing, the global leading cryptocurrency is changing hands at $42,489.
Data from Whale Alert also shows that on April 8, someone moved 4,001 BTC and 1,660 BTC from Coinbase to unknown wallets.
Bitcoin price action
On April 7, U.Today covered that after the Fed meeting where a possible interest rate hike by 50 basis points was discussed, the flagship cryptocurrency plunged 5 percent, dropping from $45,339 to $43,190.
The Nasdaq index also lost 4.5% in two days, and the drop in Bitcoin price also sent altcoins into the red. As they began to fall, Santiment noticed that traders began to transfer funds in Bitcoin.
