Just last week, an unidentified person or institution moved 10,000 BTC — worth $92,959,818 USD at the time — from one unknown wallet to a different unknown wallet. This unidentified person or institution, who was able to move about $100 million in a single Bitcoin transaction.
Summary:
Whale transactions may have contributed to recent market volatility: Whale Alert identified a significant number of high-value transactions correlated to BTC’s price slump of almost 20% from October 21st to October 22nd and subsequent recovery price of almost 60% to a high of $10,610.00, suggesting that the effect of whale traders on crypto markets is alive and well.
BTC auction from pornography ring bust may have impacted BTC’s price: After 10,000 BTC confiscated by Korean authorities were auctioned to Binance on October 18th, BTC’s price on the exchange went down from $8062.56 to $7856.89, according to Whale Alert data and SFOX’s analysis.
USDT issuance may affect market sentiment: The issuance of USDT may have fomented bull spirits in 2019. When BTC was around $3,500, there was “an enormous amount of USDT issuances,” and Whale Alert suggests that some traders may view this “as a positive market development: they assume those USDT are going to be used to buy BTC.”
Impact of whale traders may eventually wane: According to Whale Alert, “Bitcoin started with a few people. So the biggest chunk of the coins is going to be in the hands of the people who started it. Eventually, those people will have to sell their coins, and more people are interested, [so] the distribution of BTC is going to hopefully level out a bit more.”