Massive New Bitcoin Whale Birthed With 3,073 BTC Transfer

U.Today - A massive new Bitcoin whale has emerged with a single transfer of a staggering 3,073 BTC. Blockchain data reveals that the transfer occurred between two wallets with no prior major activity, suggesting the emergence of a new large holder, or whale.

Whale Alert reports that "3,073 BTC worth $297,533,192 transferred from unknown wallet to unknown new wallet."

The transaction has raised questions about whether this is the result of whale accumulation, an over-the-counter (OTC) deal or a whale consolidating holdings.

The identity of this new whale remains unknown, leading to various theories within the community. It might also be a mere wallet reshuffling for security purposes.

In another transaction reported by Whale Alert, "2,142 BTC worth $207,047,015 was transferred from unknown wallet to unknown new wallet," suggesting the emergence of a new Bitcoin large holder, or whale.

Bitcoin price actionBitcoin steadied after a run to $100,000 and fell just short of the record mark. The digital asset sank as low as $95,780 on Sunday, after coming within $300 of reaching the six-figure mark on Friday. At the time of writing, Bitcoin had modestly rebounded to $98,421, up 0.61% in the previous 24 hours.

Traders had seized on the favorable crypto outlook to push Bitcoin to the verge of $100,000, a symbolic level that for crypto supporters repudiates skeptics, who see little intrinsic value in digital assets.

According to on-chain data, the battle for $100,000 still rages on. In a tweet, IntoTheBlock highlighted that there is growing support below the current BTC price level: "The battle for $100,000 BTC rages on. While 60,000 addresses acquired 22,740 BTC above the current price, the real highlight is the growing support below: 458,000 addresses have amassed a staggering 344,000 BTC. A strong foundation to fuel a move beyond $100,000."

On the macroeconomic front, the final PCE release is anticipated prior to the Fed’s December meeting, where investors will be searching for clues about the central bank's next policy move.

Source: Investing.com