Bitcoin Whale Sends $160M to Kraken Ahead of Predicted ‘Black Monday’ Crash

As fears of a looming "Black Monday" grip the cryptocurrency market, a mysterious whale has transferred 1,928 BTC—worth approximately $159.8 million—to U.S.-based crypto exchange Kraken. The massive transfer was flagged by Whale Alert and originated from an unidentified wallet beginning with "bc1qcp." Arkham Intelligence also confirms the wallet is untagged, suggesting the sender’s identity remains unknown.

What’s more telling is that the Bitcoin was deposited directly into Kraken’s exchange address rather than a hot wallet, indicating it could be a major investor preparing to liquidate, rather than internal wallet management by Kraken. This has raised alarms of a potential sell-off, especially with BTC volatility rising and investor sentiment turning fearful.

The timing adds fuel to the fire, as prominent crypto figures like Arthur Hayes are warning of a possible market meltdown when U.S. markets open Monday. Some predict a severe drop in the S&P 500, possibly triggering circuit breakers and halting trading. The crypto market has remained unusually quiet over the weekend, which many interpret as the calm before a possible storm.

Interestingly, this anonymous whale still holds a massive 12,108 BTC—nearly $1 billion—making the recent transfer only 15% of their total holdings. Still, such a large deposit into a centralized exchange ahead of a highly anticipated market crash is seen as a red flag by analysts.

Whether this signals the start of a broader crypto sell-off or strategic repositioning by a large holder, market watchers are bracing for a volatile week ahead.