Bitcoin News: Bitcoin (BTC), the world’s largest cryptocurrency, posted a red index on Friday. As the price of Bitcoin failed to reclaim the $30,000 level, several crypto whales decided to sell some of their assets, causing the price of BTC to fall.
Bitcoin whales on the move?
According to data provided by WhaleAlert, crypto whales moved 9,406 Bitcoin (worth about $275 million) in multiple transactions over the past 24 hours. The largest single transaction recorded by the tracker was the transfer of 2,459 Bitcoin (worth about $72.66 million) to the Binance cryptocurrency exchange.
Notably, whales have moved $275 million worth of BTC to the largest cryptocurrency exchanges, Binance and Coinbase. These transactions occurred as the United States reported that GDP growth accelerated in the second quarter despite rising interest rates. Earlier, Coingape reported that even if GDP and PCE data show positive intentions, Bitcoin prices need to fall before they can rise.
$162 million worth of BTC has been transferred to Binance
According to the data, whales moved 5,552 Bitcoin (worth about $162 million) from their wallets to the largest cryptocurrency exchanges in multiple transactions over the past day. This included two large transactions of 2,459 and 1,499 Bitcoins for dumping.
Coinbase, the largest cryptocurrency exchange in the United States, also registered deposits of 2,854 bitcoins (about $113 million) in multiple transactions, with the largest transaction recorded being a transfer of 1,950 bitcoins (about $57 million).
Bitcoin price is falling after a sharp rise last month. Over the past seven days, Bitcoin price has fallen by more than 2%. BTC is now on the path to lose the $29,000 price level. At press time, it is trading at an average price of $29,214.
