What Does the Data Say About Bitcoin Movement?
As reported by Whale Alert, a total of 18,484.69 BTC was withdrawn in two consecutive transfers from Coinbase. In the first transfer, 9,322 BTC worth $485,248 million was moved to "1AyhP". This was followed by a second transfer of 9,162 BTC worth $476.9 million to "19hJg". It is noteworthy that both addresses are newly established and have no previous transaction history.
Despite this significant cryptocurrency withdrawal, the price of Bitcoin continued to rise. Bitcoin, the flagship of cryptocurrencies, is currently trading at $52,332. BTC's market capitalization continues to be over $ 1 trillion. In the comments made, it is stated that Bitcoin will continue its increase towards $ 58,000.
The impact of these large-scale BTC movements on the cryptocurrency's price trajectory remains unclear. Historically, such pullbacks from exchanges are often perceived by the community as bullish signals. However, given the volatile nature of the cryptocurrency market, it is difficult to draw firm conclusions.
Has Bitcoin Disappeared?
It is impossible to say that cryptocurrency Bitcoins have disappeared.Because it is seen that both addresses sent above are clear.We know that a concept such as lost Bitcoins is used in the cryptocurrency market.The concept is mostly used for Bitcoins that cannot be reached by their owners, whose keys are forgotten or wallet passwords are not remembered.At this point, it is difficult to talk about a loss since the outgoing addresses are also clear since the cryptocurrency exchange Coinbase has exited.
Also, considering that Coinbase is an important custody center for spot Bitcoin ETF issuers, this exit may have been made by spot Bitcoin ETF issuers.On the other hand, we can also talk about the possibility of the stock exchange making a move within itself.
