Claim BonusBitcoin Loose $27K Level; Coinbase Registers Mega BTC Whales Deposits
Bitcoin News: Bitcoin (BTC), the world’s largest crypto is on the way to record the first monthly loss for the year 2023. Bitcoin price dropped by around 8% in May 2023 trading under increased uncertainty in the market due to unexpected Fed interest rates, Debt ceiling deals, and other major economic issues. As the crucial financial events close in, Bitcoin whales have been caught shuffling almost 16,000 BTC across crypto exchanges.
Also Read: JPMorgan CEO Hints More Fed Rate Hike Amid Debt Ceiling Crisis
More Bitcoin Price Dump Ahead?
The global crypto market printed red indexes on Wednesday as altcoins followed Bitcoin price decline. BTC price dropped by around 3% in the last 24 hours to lose the crucial $27,000 mark. Bitcoin is trading at an average price of $26,930, at the press time.
James Straten, a data analyst reported that the crypto market registered a major sell off on Tuesday. Data depicts that almost $400 million worth of Bitcoin were sold on Tuesday. It is being reported as the fifth highest sell off this year. He suggested that this primarily comes from Coinbase, the US biggest crypto exchange.
He suggested that rising U.S. Dollar Index (DXY) and decreasing liquidity regarding the debt ceiling might lead a short term bear market conditions. Read More Bitcoin News Here…
Whales Move Over 12k BTC On Coinbase?
As per the data, crypto whales shuffled around 16K Bitcoin (approx worth $428.6 million) over Coinbase. However, the biggest transaction recorded by the tracker has been of moving 5,003 BTC (approx worth $138.6 million) from whale wallet to Coinbase.
Also Read: Sell Alert: Top Crypto Tokens To Unlock In June
Crypto whales have moved 12,219 Bitcoin (approx worth $330 million) from their wallets to Coinbase in multiple transactions over the past 24 hours. This move suggests that more volatility can be expected ahead as whales are looking to dump more BTC in the current price range.
However, several whales grabbed the opportunity to buy the recent Bitcoin price dip. Whales accumulated 3693 BTC (approx worth $100 million) in multiple transactions over the past 24 hours.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- India’s Crypto Taxation Unchanged as the Existing 30% Tax Retains
- Crypto News: Strategy Bitcoin Underwater After 30% BTC Crash
- Expert Predicts Ethereum Crash Below $2K as Tom Lee’s BitMine ETH Unrealized Loss Hits $6B
- Bitcoin Falls Below $80K as Crypto Market Sees $2.5 Billion In Liquidations
- Top Reasons Why XRP Price Is Dropping Today
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
