As an experienced cryptocurrency analyst, I’ve seen my fair share of market fluctuations and unusual transactions. The latest news about a long-dormant wallet transferring 1,000 BTC ($61.55 million) to Coinbase Prime just hours ago is intriguing, especially given the recent large transactions involving Bitcoin worth hundreds of millions of dollars.
Based on information from cryptocurrency analysis tool Lookonchain, a previously inactive digital wallet holding 1,000 Bitcoin (equivalent to approximately $61.55 million) has become active once more and transferred the cryptocurrency to Coinbase Prime within the past few hours.
A significant Bitcoin transfer worth approximately $241 million from the US government occurred on Coinbase on June 26, following several other notable transactions this week, as reported by U.Today. However, despite some community apprehension, this transaction did not result in a substantial price fluctuation.
As a researcher, I recently uncovered an intriguing transaction that occurred on July 27. Approximately $3 million in Bitcoin, mined as early as 2010, was transferred to Binance exchange. This batch of coins is exceptionally rare due to their origin during the era of CPU mining. Back then, it was feasible for individuals to mine the original cryptocurrency using their personal computers without requiring any specialized hardware.
Bitcoin remains in the doldrums
According to data from CoinGecko, the largest cryptocurrency is presently being traded for around $61,522, having reached a high of $62,314 previously. Over the last seven days, this leading digital currency has experienced a decline of approximately 5%.
I’ve noticed an uptick in Bitcoin transfers to large wallets according to a report by U.Today, after the latest price downturn.
As a crypto investor, I’ve noticed that after a brief respite from its sharp decline beneath the $59,000 mark, Bitcoin has been finding it difficult to regain its bullish momentum. Unfortunately, there seems to be no clear-cut bullish catalyst on the horizon to boost its price upward.
It’s important to note that Bitcoin exchange-traded funds have yet to see significant inflows again, providing potential relief for buyers in the market.
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2024-06-28 09:36