Some of the largest holders of Bitcoin in the world moved billions of dollars worth of BTC in a flurry shortly before the flagship cryptocurrency broke below the $20,000 mark.
On-chain crypto tracking service Whale Alert flagged a series of remarkably large BTC transactions early this weekend.
In particular, WhaleAlert spotted five transactions all done within a minute of each other worth over $205 million. Each transaction saw exactly 9,873 BTC move from crypto exchange Coinbase to an unknown wallet, according to WhaleAlert.
Within hours, Whale Alert spotted six large BTC transactions with a combined value of nearly $1 billion. Three transactions moved Bitcoin from wallets of unknown origins to crypto exchanges. One transaction shifted BTC from a crypto custody firm to an unknown wallet while another transaction relocated Bitcoin from a crypto exchange to a custodial company. Another transaction moved BTC from an exchange to a wallet of unknown origins.
At time of writing, Bitcoin has lost the $20,000 level and is currently trading at $18,526.
Featured Image: Shutterstock/Natalia0307
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