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Bitcoin's Same Whale Address Sent BTC To Exchanges, Contributing To Corrections

Tue, 23 Feb 2021, 07:59 am UTC

Santiment noted on Twitter that there was an 11x exchange inflow spike that initiated Bitcoin's price correction from its $58.3k, an all-time high. Further data combing revealed that an address was responsible for the 2nd largest $BTC transaction of the year, an import of 2,700 tokens to the wallet before a quick sell-off. This same address also made a 2,000 $BTC import last March right as the Black Thursday correction took place. In total, it's made 73 transactions in its one-year existence, for a total of 91,935 $BTC imported, with all tokens moving away within minutes after arrival.

Coinness

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