The history of the sender’s address, “bc1qc,” reveals limited information. Its initial transaction occurred in March 2024, receiving 0.002 BTC from another unidentified and now empty wallet. A closer examination of the transaction chain shows a series of exchanges between various unknown addresses over several months.
This recent transaction represents a significant but not overwhelming portion of the wallet’s total holdings. Currently, 20,282 BTC, valued at approximately $1.44 billion, remain stored in “bc1qc.”
Market participants often view such substantial transfers as potential indicators of a major player preparing to sell their holdings. Transferring Bitcoin to highly liquid platforms like Kraken is a common practice before executing large sales.
However, it has not yet been confirmed whether this transfer will result in an immediate sell-off. The market impact of such a move could be significant given the large volume of Bitcoin involved.
For now, attention remains on the rest of the large holdings in the wallet and the possible market movements that could follow.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
