PakGazette: On-chain data has detected an avalanche of large transfers in the last 24 hours. In the midst of this, a massive transfer of 999 BTC was detected, valued at almost $106,048,784. The peculiarity of this transaction is that the BTC stash was moved to a newly created wallet, suggesting the emergence of a new Bitcoin whale.
According to Whale Alert, “999 BTC worth $106,048,784 were transferred from an unknown wallet to a new unknown wallet.” This transaction is part of a recent surge in large Bitcoin transfers seen over the past 24 hours as Bitcoin sets new all-time highs.
Whale Alert reports several Bitcoin transactions in the last 24 hours, the most recent at the time of writing being two transactions of 1000 BTC each, worth almost $107 million, between unknown wallets and then the Kraken crypto exchange .
A recent SpotOnchain analysis appears to shed light on the rush of BTC transactions seen over the past 24 hours as the Bitcoin rally hit all-time highs.
According to SpotOnchain, two institutions moved a total of 23,664 BTC worth $2.51 billion after Bitcoin reached a new ATH of around $108,000. However, this was done in sections.
SpotOnchain describes these transfers: Mt. Gox transferred 1,620 BTC worth $172.5 million in the last few hours. This includes 1320 BTC to an internal wallet and to the B2C2 Group. Since November 1, Mt. Gox has moved 7,500 BTC worth almost $650 million to B2C2, likely for payments to creditors. Mt. Gox currently holds 37,404 BTC worth $4.02 billion.
Bitcoin mining company Marathon Digital (NASDAQ:) also moved 22,044 BTC worth $2.34 billion in the past few hours. These funds were distributed into 40 new unidentified wallets and remain there. Marathon’s current holdings, according to SpotOnchain, are now 14,364 BTC worth $1.54 billion.
Bitcoin reaches new ATH
Bitcoin soared to a new all-time high as investors anticipated an interest rate drop from the Federal Reserve later this week.
According to CoinMarketCap, the price of the largest cryptocurrency by market capitalization increased by 2.59% to $106,564 at the time of writing. During the trading session on Monday, it reached a new high of $107,857.
Investors expect the Federal Reserve to cut interest rates this week during its two-day policy meeting, which ends Wednesday.
