The world’s most popular cryptocurrency, Bitcoin, saw a significant movement from an anonymous wallet to Binance, the largest cryptocurrency trading platform based on volume, about 16 hours ago, according to the crypto tracking website Whale Alert.
https://x.com/whale_alert/status/1720530291427524963?s=20
A massive 10,000 BTC, valued at $345,041,344 at the moment of the transaction, was transferred.
This transfer was made with the intention of selling something, most likely, after the Fear and Greed Bitcoin Index, a significant indicator of market mood, moved to the Greed zone on Friday.
Bitcoin market sentiment — greed, whales move 10,775 to Coinbase
The index reached the Greed area on Friday, at 65. As investors start selling their holdings to take profits off the table, a correction may be imminent when the mood swings into this zone, indicating that the market is overbought.
A staggering 7,000 Bitcoin were sent to the Bitfinex exchange on Friday, just before this enormous 10,000 BTC transfer. According to Whale Alert, an unidentified whale also started the transaction.
https://x.com/whale_alert/status/1720518603861090340?s=20
Additionally, five transactions totaling 10,775 BTC were made by unknown cryptocurrency investors to Coinbase, the biggest U.S. exchange. The current value of this cryptocurrency is $374,025,032.
Bitcoin market performance
Following a stunning 15% surge in value on Monday, October 23, when Bitcoin, the virtual equivalent of gold, shot up from $30,000 to the $34,500 region, the cryptocurrency has remained essentially trading in the same range for over two weeks.
Bitcoin saw a 4.40% increase on November 1st, reaching a price of $35,702, but it was unable to maintain that level and fell down to $34,185.
The top cryptocurrency is trading at $34,732 on the Bitstamp platform at the time this story was written.
