Bitcoin Whale May Have Finished Selling After $230 Million Move

[Magician]

A bitcoin whale that has been accumulating 113,000 BTC ($440 million) since 2014 may have finished selling after ₿60,000 ($230 million) was moved at the end of last month, emptying the fourth biggest bitcoin wallet.

The address in question was largely buying throughout much of 2017, but turned to selling last year and now may have finally sold everything.


Bitcoin whale finishes selling or is 4chan right again? March 2019.

The above analysis is not fully confirmed, but on a surface view it looks largely right, with the assumption here being that a movement of coins is selling.

One can’t know so for certain, with two probable scenarios as far as this ₿60,000 is concerned. Either the whale split them up to perhaps avoid the attention of anon above who must have spent quite some time to create that very nice chart. Or the whale did in fact sell $230 million worth of bitcoin Over the Counter (OTC).

Let’s first go to 24th of October 2014. On that day, the bullbear whale sends 1 “cent’ of BTC to the address in question and withdraws 1 bitcent from it.

The address works and he, she, or it as perhaps it is an entity, feels safe they have ownership and control of the address, so they progress to accumulate.

The chart tells the rest of the story, so zooming into this ₿60,000, there’s an interesting behavior that suggests some sophistication:


Bitcoin whale movements, March 2019.

You’ll notice here all the withdrawals are at precisely the same time, but to different addresses. So we have a software being used. There’s some sort of front-end interface somewhere where parameters are entered like where to withdraw and so on.

Not all of the ₿60,000 was withdrawn at the same time, but they all are withdrawn on the 28th of February from 7AM to 3PM London time.

Nor is all of it in the precise amount of ₿1,000, but that’s the most common one. Meaning this could be just a movement of funds to obstruct, but it looks more likely this was 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.

What is clear, however, is that 60,000 bitcoin has moved. Not to an exchange, but to numerous addresses with each getting about ₿1,000.

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