It seems that whale wallets are on the move more often than usual, lately. Whale Alert is reporting that 12,008 BTC ($124.8M) was moved to an unknown wallet today.
Whale Alert is alerting the cryptocurrency community that a major wallet is moving Bitcoin funds. Close to $125M has been consolidated in an address — originally coming from multiple addresses.
The response to the transaction has been general shock and uncertainty over what it might mean.
The massive transfer comes just two days after another whale consolidated 33,706 BTC ($341M).
Generally speaking, two major BTC transfers valued at over $100M each is quite strange and might be an indication that the two are connected. Of course, it could just be two unrelated whales consolidating their holdings. The question is: why? It seems strange that someone with this much BTC would want it to consolidate it all in one address, admittedly.
Since the bitcoins were not headed to exchange, it’s safe to say that the transfer will not have much of an impact on the market in the short-term. However, this could be a multi-level consolidation period before a possible sell-off. Read More at BeInCrypto...