Moving large sum of bitcoin - page 2.

LoyceV

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Quote from: DarkDays on June 11, 2020, 10:10:16 AM

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

I always consider the Bitcoin market to be highly manipulated. If traders start assuming a large transaction is going to lead to a drop in price, it can be used for manipulation too. All that "the whale" has to do, is transfer a large amount, and the price drops, even without selling anything!
I don't like manipulation, so I'm not buying nor selling based on this.

Sanugarid

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Quote from: DarkDays on June 11, 2020, 10:10:16 AM

Looking at the destination address, there is no indication that it's an exchange address. Or at least, they haven't been marked as such yet.
Usually, these large transfers are judge hedge funds consolidating their balances or moving to an upgraded custodian or cold storage system.

If these addresses were not marked as any of exchange address, I'm pretty sure that it was a cold storage address since nobody would really put that huge amount in just a plain wallet.
So I guess we will be putting an eye for this one in case that any exchange will be announcing the identity of these addresses. Put a ward.

Quote from: DarkDays on June 11, 2020, 10:10:16 AM

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

Yeah, it could be and it would be beneficial for the community if it really is.

Some of you guy are wondering why the price isn't declining after this movement Cheesy

it was moved not sold.

Yudhisthir

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Quote from: mk4 on June 11, 2020, 11:08:36 AM

Quote from: Maus0728 on June 11, 2020, 09:35:47 AM

If I am not mistaken, he is not transfering to an exchange right?

Doesn't matter. If the coins are owned by one person and is planning on dumping, fine whatever. Another opportunity to buy cheaper coins.

EDIT: Another one, and another one. Now this we know that it's really going to an exchange lol.

https://twitter.com/whale_alert/status/1271109434677354497
https://twitter.com/whale_alert/status/1271086349043539971

Transferring large sum of bitcoin to an exchange refers to a planned dumping of bitcoin either to cashout or in favor of an alt. I don't think any of those are from early bitcoin miners as they'd act more discrete than this. I think it's either a hedge fund trying to divest or a large mining farm cashing out it's earnings.

Reid

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Yummy!
Are they giving tips to those who will know if it sent to an exchange or not? Grin

If it's true that it is being divided (mk4 post above) and sent to Binance then brace yourselves for another buying fiesta of cheaper bitcoin in the market.
Afterward! Yahoo!

mk4

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Quote from: RapTarX on June 11, 2020, 11:21:37 AM

That's a hell lot of amount in fiat. I doubt it's owned by single person and going to be cashed out. Otherwise, the price will pull back to $6/7 k I guess.

This is assuming that the owner would market sell dump every single coin in one go, which is obviously not the smartest thing to do if he/she wanted to have the best offer for his/her coins.

Quote from: RapTarX on June 11, 2020, 11:21:37 AM

ATM, BTC price is a little downward, is it the reason? If so, I guess it will create some downward pressure for a while.

Possibly. I'm guessing that it's the reason. The market has always been prone to fear from information like this.

ShowOff

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Quote from: yazher on June 11, 2020, 10:41:14 AM

whatever the reason is, this surely makes some noise in the market community. Another speculation will follow after this transaction.

It is very possible, speculation will emerge as peoples reaction to such a large transaction. After a few hours after the transaction, I didnt see the market reacting quickly and that was a number of circumstances that could prove that the transaction was a transfer of assets by one of the exchanges to safer storage. I agree with the opinion of DarkDays.

Quote from: BrewMaster on June 11, 2020, 10:56:19 AM

there has never been any reliable way of knowing whether it is being sent to an exchange or not to an exchange.

In my opinion, we can still find out if it is a deposit address, then all bitcoin will be transferred to cold storage and we will see the balance become empty in the wallet. If this is a storage address, the balance will continue until the owner transfers it to another wallet.

RapTarX

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That's a hell lot of amount in fiat. I doubt it's owned by single person and going to be cashed out. Otherwise, the price will pull back to $6/7 k I guess.
ATM, BTC price is a little downward, is it the reason? If so, I guess it will create some downward pressure for a while.

mk4

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Quote from: Maus0728 on June 11, 2020, 09:35:47 AM

If I am not mistaken, he is not transfering to an exchange right?

Doesn't matter. If the coins are owned by one person and is planning on dumping, fine whatever. Another opportunity to buy cheaper coins.

EDIT: Another one, and another one. Now this we know that it's really going to an exchange lol.

https://twitter.com/whale_alert/status/1271109434677354497
https://twitter.com/whale_alert/status/1271086349043539971

BrewMaster

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Quote from: Maus0728 on June 11, 2020, 09:35:47 AM

If I am not mistaken, he is not transfering to an exchange right?

there has never been any reliable way of knowing whether it is being sent to an exchange or not to an exchange. and this has not changed. unless the owner(s) of those coins or the destination(s) come out and publicly tells us what they did we will never know.

and these very large coin movements are moderately common in bitcoin. specially when fees go down because big businesses consolidate a lot of their coins and move funds between wallets, make big payments,... during these times.

OmegaStarScream

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I just googled the address, and apparently, it belongs to Bittrex: https://clankapp.com/address/3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh

Not sure how accurate the site is though, I've never used it before.

yazher

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That's a lot of money right there and they moving it to some unknown address. My theory is I think someone just upgraded their wallet to a new one or someone wants to ready for something. whatever the reason is, this surely makes some noise in the market community. Another speculation will follow after this transaction. By the way, I never knew that someone has developed a bot to track huge BTC transactions. So we cannot move them privately now if we move a huge amount of BTC in one transaction? everyone seems to know about it because of this bot on the image.

DarkDays

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Looking at the destination address, there is no indication that it's an exchange address. Or at least, they haven't been marked as such yet.

Usually, these large transfers are judge hedge funds consolidating their balances or moving to an upgraded custodian or cold storage system.

I remember reading a while ago about some huge transfers that were initially thought to be a whale unloading onto the market, but were actually found to be an institutional trading house moving their Bitcoin over to Ledger Vault—a secure custody solution for crypto firms.

These transactions are usually only relevant when going to an exchange, since this can be an indicator of a potential mass liquidation on the way.

Maus0728

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It looks like there is someone/ group of people is transferring bitcoin! 43k bitcoin is a hell amount of money. If I am not mistaken, he is not transfering to an exchange right?

https://blockchair.com/bitcoin/address/3FDWNdFxrJxXoF4hWXF4dkc1FFxsNyKAHh

Topic: Moving large sum of bitcoin - page 2. (Read 568 times)