The Fifth Largest Whale Bitcoin Transfers Over $6 Billion in BTC
The fifth largest Bitcoin address, known as ’37X,’ has transferred over $6 billion in BTC to three new addresses. This is the first time since 2019 that these funds have been moved, garnering attention from the crypto community and financial analysts.
Ni un exchange, ni un fonds ?
On March 23rd, this Bitcoin whale moved nearly its entire balance of 94,500 Bitcoins, worth $6.05 billion, leaving behind only 1.31 BTC in the original address. The funds were split between three distinct addresses, with specific amounts allocated to each. This movement of funds is notable not only for its magnitude but also because it breaks a deep sleep period since their reception in 2019.
According to Arkham Intelligence, the on-chain analysis platform that noticed the movement, the address ’37X’ does not belong to a crypto exchange or an investment fund.
Are Whales Preparing for the Halving?
This operation comes amidst a renewed interest from institutions in Bitcoin, particularly in anticipation of the halving, the halving of block rewards expected at the end of April. This reduction, which halves the rewards given to miners, is a key event in the Bitcoin economy and is often associated with an intensification of the bull market.
The massive transfer of BTC by the whale coincides with a period in which the price of Bitcoin has once again crossed the psychological threshold of $70,000 after ten days of waiting.
