{"id":297,"date":"2022-10-19T14:20:53","date_gmt":"2022-10-19T14:20:53","guid":{"rendered":"http:\/\/live-script.xyz\/btc-whale-transfers-940-million-out-of-coinbase-3-batches-of-sleeping-bitcoins-from-2011-move\/"},"modified":"2022-10-19T14:20:53","modified_gmt":"2022-10-19T14:20:53","slug":"btc-whale-transfers-940-million-out-of-coinbase-3-batches-of-sleeping-bitcoins-from-2011-move","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/btc-whale-transfers-940-million-out-of-coinbase-3-batches-of-sleeping-bitcoins-from-2011-move\/","title":{"rendered":"BTC Whale Transfers $940 Million Out of Coinbase \u2014 3 Batches of \u2018Sleeping Bitcoins\u2019 From 2011 Move"},"content":{"rendered":"
On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher\u2019s summary of the situation, a large portion of the funds were old coins. <\/strong><\/p>\n While bitcoin (BTC)<\/a> has been trading under the $20K region and trading sideways, observers have witnessed a number of old coins move onchain. The onchain movement comes at a time when market volatility is expected. For instance, the latest Glassnode Insights report called \u201cA Coiled Spring,\u201d expects some bitcoin price fluctuations to occur in the near future.<\/p>\n\n \u201cThe bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows,\u201d Glassnode wrote<\/a> on October 17. \u201cFutures open interest has hit new all-time-highs, despite liquidations being at all-time-lows. Volatility is likely on the horizon, and Bitcoin prices rarely sit still for long.\u201d<\/p>\n The following day, researchers from the crypto analysis platform Cryptoquant tweeted<\/a> that 48,000 dormant bitcoins moved onchain on Tuesday. \u201cDormant bitcoin moved out from Coinbase Pro,\u201d Cryptoquant said on Twitter. \u201cThe outflow of 48K BTC<\/a> is coming from Coinbase Pro and has a dollar value of [$940 million].\u201d<\/p>\n\n Cryptoquant said that a \u201cbig portion\u201d of the onchain spending stemmed from batches of really old bitcoins, at least three to five years in age. The researchers estimate roughly 32,000 BTC<\/a> of the 48K were between three to five years old. \u201cFurther investigation is needed to conclude whether it\u2019s an exchange in-house flow, sent to a new wallet, or just a clean outflow,\u201d Cryptoquant detailed<\/a> on Tuesday.<\/p>\n In an update following the initial post, Cryptoquant explained that 8,000 BTC<\/a> was deposited on Coinbase shortly after. \u201cThe transactions were partially split into batches of 122 BTC<\/a>. We\u2019ve seen this multiple times during the 2021 bull run, right? Ahem institutions,\u201d Cryptoquant added.<\/p>\n In addition to the 48,000 coins moving onchain with a great majority being dormant bitcoins, a few addresses from 2011 have sent a few batches of so-called \u2018sleeping bitcoins\u2019 this month. Btcparser.com<\/a> caught sleeping bitcoins moving<\/a> from an address created on May 14, 2011, when they were transferred on October 10, 2022, at block height 758,046.<\/p>\n On the same day, a dormant address created on October 24, 2011, moved<\/a> 40 BTC<\/a>. Seven days later, a batch of 10.29 sleeping bitcoins from an address created on September 20, 2011, was transferred for the first time in 11 years.<\/p>\n What do you think about the old bitcoin spends happening in recent times? Let us know your thoughts about this subject in the comments section below. <\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":" On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher\u2019s summary of the situation, a large portion of the funds were old coins. Whale Transfers 48,000 Bitcoin Amid Coiled Market While bitcoin (BTC) has been trading under […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nWhale Transfers 48,000 Bitcoin Amid Coiled Market<\/h2>\n
11-Year-Old \u2018Sleeping Bitcoins\u2019 Wake After Years of Slumber<\/h2>\n