61,500 BTC Pushed To Coinbase For “Dump”?

The cryptocurrency market continues to have an impressive rally, but a large amount of BTC is facing some doubts that will face a strong discharge from a large whale wallet.

Whale wallet keep pushing BTC to Coinbase exchange

As was updated in an article by Coincu News, with the impetus coming from the news that Ethereum has set the launch date of The Merge, life has returned to the market. BTC is having a transformation as it tends to move towards the $24,000 mark.

In the optimistic situation, a sudden appearance of a whale wallet continuously pushed a large amount of Bitcoin into the Coinbase exchange, making the community bewildered and worried that there would be a dump that would shake the market.

Specifically on the day of wallet 1P5ZEDWTKTFGxQjZphgWPQUpe554WKDfHQ, after a period of continuously buying and accumulating BTC in large quantities, owning more than 117,000 BTC (equivalent to $2.6 billion), suddenly withdrew to 61,500 BTC. Is this a sign of a “dump” as soon as Bitcoin has just recovered?

However, the fact that the wallet transferred some BTC to Coinbase exchange and distributed most of the BTC that has just been withdrawn to another wallet (1LQoWist8KkaUXSPKZHNvEyfrEkPHzSsCd), this proves that the whale is just doing a wallet split, no there was a move to discharge goods as the community speculated.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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