U.Today – Over the weekend, something unusual happened with BTC transactions on one of the world's largest cryptocurrency exchanges. Whale Alert monitored a series of large transfers, showing how over $1 billion worth of bitcoins were transferred between wallets.
Among these transfers, one transaction in particular caught our attention: a $50 million deal. It involved transferring 500 BTC from Binance to an unknown wallet, followed shortly after by a near-identical return transaction of 499 BTC worth $50.9 million that was sent back to Binance.
And there was more. Today, we've seen more large-scale transfers, with millions more worth of Bitcoin in circulation. Many of the transactions involved exchanging thousands of bitcoins between anonymous wallets.
Some of the numbers were quite large, such as 2,600 Bitcoins worth approximately $265 million, 3,000 Bitcoins equivalent to $305.8 million, and 4,998 Bitcoins worth over half a billion dollars being transferred between different unknown addresses.
One particularly eye-catching transaction saw 1,000 BTC ($102.9 million) transferred from Bybit to an unknown wallet, contributing to the overall increase. Overall, large amounts of Bitcoin were in circulation, with much of it flowing between wallets with no identifiable owner or clear intentions.
Big week for Bitcoin
The timing of these transfers is noteworthy, because they occurred while the price of Bitcoin rose more than 1.5%, reaching a high of $103,000. Such high-volume moves often accompany shifts in market sentiment or strategic decisions made by institutional players.
What makes this activity unusual is its scale and anonymity. Transactions taking place on Sunday, which is typically a quieter day for trading, could indicate that there is some strategic planning going on as the market prepares for next week.
