Summary
- Whale Alert reported that 2,424 Bitcoin were transferred to the Kraken exchange.
- This amounts to approximately $231.97 million, and such large exchange deposits could lead to increased selling pressure.
- Bitcoin is trading at $95,323 on Binance's USDT market, down 0.07% from the previous day.
A large amount of Bitcoin (BTC) has been transferred to the cryptocurrency exchange Kraken.
On the 18th (local time), Whale Alert announced via X that "2,424 BTC was transferred from an anonymous address to Kraken," noting that "this amounts to approximately $231.97 million."
Typically, large deposits to exchanges can lead to increased selling pressure, which may result in heightened short-term volatility.
As of 3:22 PM, Bitcoin is trading at $95,323 on Binance's USDT market, down 0.07% compared to 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![Shock that there is 'no US government backstop'… Bitcoin retreats to the $60,000 level; Ethereum also rattled [Lee Soo-hyun’s Coin Radar]](https://media.bloomingbit.io/PROD/news/b23cb4d1-e890-4f1c-aa52-f18f45dc8192.webp?w=250)
