The mysterious bitcoin whale abruptly moves above $134,000,000 in BTC – here is the direction the cryptocurrency is headed

A mysterious Bitcoin (BTC) whale is suddenly transferring hundreds of millions of dollars worth of the king cryptocurrency from a centralized crypto exchange platform.

New data from whale-watching platform Whale Alert shows that the wealthy investor suddenly transferred 5,140 BTC, or $134 million of the largest crypto asset by market cap, from Dubai-based crypto exchange Bybit to an undisclosed wallet.

The move comes after data from well-known crypto analytics platform Santiment revealed that the amount of BTC on exchanges hit its lowest level in six years.

In addition, the market research firm notes that high-net-worth Bitcoin investors make an average of 57,400 BTC transactions worth more than $100,000 per week.

“Currently, only 5.8% of Bitcoin is on exchanges, which is officially the lowest level since December 17, 2017. We continue to see reasonable amounts of BTC whale transactions (57,400 per week).”

Source: Santiment/X

Other notable whale transactions on Whale Alert’s radar include:

• 2,910 BTC worth $76,010,381 were transferred from an unknown wallet to US-based crypto exchange Coinbase.
• 4,000 BTC worth $106,039,171 were transferred from crypto exchange Bitfinex to an unknown wallet.
• 1,414 BTC worth $37,446,124 were transferred from crypto exchange Gemini to an undisclosed wallet.
• 1,162 BTC worth $30,066,143 were transferred from Binance to an unknown wallet.

Bitcoin is trading at $25,938 at the time of writing, a minor drop over the past 24 hours.

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Featured image: Shutterstock/Tithi Luadthong

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