Bitcoin whale emptied the wallet by moving out $60,000BTC

By March 12, 2019 Bitcoin Business
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  • The fourth largest Bitcoin wallet is now empty.
  • BTC/USD is drifting towards local support.

The owner of the fourth largest Bitcoin address emptied his or her wallet by transferring the remaining 60,000 BTC ($230M), the Trustnode reports. The transaction was processed at the end of February.

It is worth noting that the address was first credited with 0.001 BTC on October 24, 2014. Since that time the Bitcoin Whale accumulated 113,000 BTC ($440M). This is the total amount of all incoming transactions. However, once BTC reached its all-time high in December 2017, the owner of the wallet started to move the coins out of the wallet.

The Trustnode also notes that the whole amount was broken down in small chunks of $1,000 and all of them ended up in a bunch of cryptocurrency addresses, which looks like an OTC sale.

"Whether that means the last bear standing has made an exit, or that he was given a far too good offer to pass, or that the buyers may have bought it too cheap and might now send it to market, or that a weak hand has given way to strong hands, isn’t very clear,”Trustnode writes.

Meanwhile, BTC/USD is changing hands at $3,818, down nearly 1.7% since this time on Monday. The first digital coin is rangebound with bearish bias after a failed attempt to settle above $3,900 handle. On the downside, the price is supported by psychological $3,800 followed by $3,753 (SMA200 4-hour)

BTC/USD, 4-hour chart

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BTC/USD is drifting towards local support.

The owner of the fourth largest Bitcoin address emptied his or her wallet […]

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