???? 6,003.59 #BTC ($118,290,000) outflows to #Binance
It’s been a while that we’ve seen a transaction like this.#Bitcoin #Ethereum #Crypto #OnChain pic.twitter.com/31f08JRSzV
Banker’s Coin Transfer Incentives
Because crypto coin transfers are highly private. Therefore, it is almost impossible to identify the real owner of the transferred Bitcoin. Presumably, the dealer has moved Bitcoin to cold. wallet that is more secure This indicates that this investor has no intention of selling in the foreseeable future.
In some cases, most major coin holders prefer to own the coin directly when they intend to hold it for the long term. And the outflow of BTC from exchanges is often seen as a positive signal to the market.
In addition to safety reasons Some dealers tend to transfer their coins to various exchanges. to have liquidity Looking at the dealer’s selling and buying patterns is sometimes a good indicator of the asset’s price movement.
Such important transactions are known to cause volatility in Bitcoin prices.
Criticism of Bitcoin
With that they can move the market price. The dealers are therefore criticized for their contribution to making Bitcoin less decentralized, which does not match the vision of the cryptocurrency. Satoshi Nakamoto In the beginning, the disparity in holding Bitcoin in the market has caused most people to attack in this area as well.
interesting is Following the continued collapse of the crypto market Most investors seem to ‘HODL’ their coins awaiting a possible recovery. It was previously reported that 62% of Bitcoin holders have no plans to sell their coins for more than a year.
In the meantime, Bitcoin remains below $20,000 at $19,757 at the time of news coverage.
