Notable Bitcoin (BTC) transfer for $231.45 million made headlines recently. As a result, according to Whale Alert, a person or organisation using the address “bc1qc” carried out the transaction, sending 3,250 BTC to Kraken, a significant US cryptocurrency exchange.
There is not much information available on the sender’s address, “bc1qc,” in its history. Its first transaction was place in March 2024 when it received 0.002 BTC from an undisclosed wallet that had since been deleted. A deeper look at the transaction chain reveals a string of transfers that took place over several months between several unknown addresses.
The latest transaction is a noteworthy, yet manageable, fraction of the wallet’s overall contents. As of this now, 20,282 Bitcoin, worth almost $1.44 billion, are still kept in “bc1qc.”
https://x.com/whale_alert/status/1792799024413561162
Such large transactions are sometimes seen by market participants as possible signs that a key player is getting ready to liquidate their holdings. It is customary to move Bitcoin to very liquid platforms such as Kraken prior to carrying out significant sales.
It is yet unknown, though, if this move would lead to an instant sell-off. With so much Bitcoin at stake, a move of this kind might have a big effect on the market.
Bitcoin nears all-time high…again
The price of Bitcoin has not changed much in spite of the significant transfer, staying above $70,000. With this level just 3.75% from its peak, the market is clearly confident and there is still demand from institutional and individual investors.
For the time being, focus is still on the wallet’s remaining sizable assets and potential market changes.
