Binance has just moved 75,000 BTC
When the worst is over, we may see another big upheaval, as more eyes are on the Bitcoin being transferred. Recently, Binance officially moved 76,125 BTC with a fee of only 0.00021672 BTC ($ 1.5 USD).
Whale Alert's Twitter immediately sent traders a notice of the volatility:
– Whale Alert (@whale_alert) March 20, 2020
“Short now !!! BTC is about to turn back 3k ”, an account commented.
Accordingly, it is no wonder that the Bitcoin price plummeted quickly after a large amount of Bitcoin entered the exchange.
However, CEO Binance quickly dispelled those concerns. CZ said the “anonymous” wallet is an internal transaction. He also said that 76,000 BTC was to change addresses. Real trading is only 10,000 BTC:
“Whale Alert only creates confusion at the present time, traders need to be calm at this time.”
Bitcoin's recent rally is not a real price increase, but people are expecting a rally, even though this is just a move within Binance.
One thing worth mentioning about this transaction is the way it is easily processed and extremely cheap with the Bitcoin blockchain network. This continues to be another example of the convenience of this technology compared to many traditional solutions.
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