A significant cryptocurrency tracking service called Whale Alert has revealed that around 18 hours ago, a big lump of Bitcoin worth 10,000 BTC was deposited into a brand-new wallet that had no owner listed.
The market’s leading digital currency, Bitcoin, has managed to recoup more than 4% of its recent losses and is back above $26,500 during the past 24 hours.
New BTC whale emerges, holding $261 million in crypto
A total of 10,000 BTC worth $261,322,181 was moved from one anonymous wallet to another, according to Whale Alert, a little under 18 hours ago. The receiving wallet was brand-new, that is, it had just lately been set up, the tracker emphasised.
This might point to a buy or a whale redistributing his cryptocurrency assets by putting aside some of his BTC hoard.
A few hours later, the same tracker detected a slightly lower quantity of BTC on the move as 3,912 BTC (equal to $101,005,888) was transferred from one anonymous address to another.
Bitcoin price rebounds after large decline
The news that the SEC had filed lawsuits against two major cryptocurrency companies, Coinbase and Binance, accusing them of breaching American securities laws, sent shockwaves through the cryptocurrency market at the end of last week.
Immediately after, Bitcoin reacted by falling 4.45% and reaching $25,502. After the CPI data, which was released on June 14 and had better results than anticipated, BTC fell another 4% later that day. As a result of the announcement that the biggest global asset management BlackRock filed a filing to start a Bitcoin ETF with Coinbase serving as a custodian, the top cryptocurrency has now increased by 4.13% over night.
Like Bitcoin, the whole cryptocurrency market started to recover.
