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U.Today – Over the weekend, something unusual happened with (BTC) transactions on one of the world’s largest cryptocurrency exchanges. Whale Alert kept an eye on a series of large transfers, showing how more than $1 billion worth of Bitcoin passed between wallets.
Among these transfers, one in particular caught our attention: a $50 million transaction. It involved moving 500 BTC from Binance to an unknown wallet, followed shortly after by a nearly identical return transaction of 499 BTC worth $50.9 million sent back to Binance.
And there were more. Today we saw more large-scale transfers, with millions more in Bitcoin value changing hands. Many of the transactions involved the exchange of thousands of BTC between anonymous wallets.
Some of the figures were quite large, such as 2,600 BTC worth around $265 million, 3,000 BTC equivalent to $305.8 million, and 4,998 BTC worth over $500 million moved between several unknown addresses.
In one particularly eye-catching transaction, 1,000 BTC ($102.9 million) was transferred from Bybit to an unknown wallet, contributing to the overall increase. In total, tons of Bitcoin changed hands, with a large amount flowing between wallets that have no identifiable owner or clear intentions.
Big week for Bitcoin
The timing of these transfers is noteworthy, as they occurred while the price of Bitcoin rose more than 1.5%, reaching a high of $103,000. These large volume movements are often accompanied by changes in market sentiment or strategic decisions by institutional players.
What makes this activity so unusual is the scale and anonymity. Trades taking place on a Sunday, which is typically a quieter day for trading, could suggest there is some strategic planning underway as the market prepares for next week.
