“Whales are dumping Bitcoin” — nobody saw that. What they saw was 6,168 BTC, worth $498.5 million, arriving at Coinbase Prime.
According to Lookonchain, there are three whales. They didn’t say who they are, or whether they sold.
And Coinbase Prime is both a brokerage desk and a custodian. A deposit there could be OTC, collateral, or simply custody.
The only wallet with a history, according to Arkham:
16 months ago, it withdrew 615.4 BTC at an average price of $105271.
Now it’s deposited 438.37 BTC back.
Down more than $15 million.
Whether it’s one of the 6,168 is unknown, so you can’t add them together.
Basically, it looks like the one who bought at the highs.
$BTC
I don’t hold any, so I’m watching the level: while the price is far below $105271, I think there’ll be more deposits like this.
A deposit to Prime — a sale or safekeeping? For now, I’m betting on the latter.
#bitcoin #CoinbasePrime
According to Lookonchain, there are three whales. They didn’t say who they are, or whether they sold.
And Coinbase Prime is both a brokerage desk and a custodian. A deposit there could be OTC, collateral, or simply custody.
The only wallet with a history, according to Arkham:
16 months ago, it withdrew 615.4 BTC at an average price of $105271.
Now it’s deposited 438.37 BTC back.
Down more than $15 million.
Whether it’s one of the 6,168 is unknown, so you can’t add them together.
Basically, it looks like the one who bought at the highs.
$BTC
I don’t hold any, so I’m watching the level: while the price is far below $105271, I think there’ll be more deposits like this.
A deposit to Prime — a sale or safekeeping? For now, I’m betting on the latter.
#bitcoin #CoinbasePrime
