15 Thousand Bitcoin (BTC) in 2014 Moved For 10 Days, Ready to Sell?
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Thursday, September 8, 2022
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Amid the market sluggishness, investors highlighted the movement of 15K Bitcoin (BTC) in the last 10 days, fearing liquidation.
Previously, the market had been worrying about rumors of a big sale from victims of the MtGox hack who would get redress, although that wasn't true in fact as the reimbursement process was long and uncertain.
And right now, there are 15K Bitcoins (BTC) in motion, most of which were bought around eight years ago, in 2014.
15K Old Bitcoin (BTC) Move
CEO of CryptoQuant and Bitcoin analyst, Ki Young Ju, shared with his followers on Twitter about the big move, which took place over the past 10 days.
Young Ju also said that some of the coins had already been sent to the Kraken cryptocurrency exchange wallet, which could be a sign of an imminent sale and potentially have a negative impact on the market.
He also saw an increase in the exchange-whale ratio before the BTC price slumped. That means, whales are starting to be more active in moving BTC from their personal wallets to crypto exchange wallets. This is one of the bearish sentiments that should be anticipated.
Based on a Watcher News report, CryptoQuant has also revealed that 90 percent of the coins that the exchange accepts come from the wallets of whale investors.
Although 15K Bitcoin (BTC) can bring a great bearish impulse if liquidated, the current decline seems more likely to be fueled by US sentiment.
The US central bank's aggressive move to raise interest rates to fight inflation, which is also feared to rise in September's report, is the reason investors' risk appetite is shrinking.
As a result, risk assets such as stocks and crypto were again abandoned, bringing a sell-off that hit the crypto markets, including Bitcoin.
As we can see, the crypto market today is quite closely related to the stock market. Thus, global sentiment will have a greater impact on the market.
In addition, the movement of large amounts of coins appears to be “somewhat” ignored by investors who are more focused on the sentiment surrounding the US dollar.
