The cryptocurrency market has experienced a new drop as the leading cryptocurrency, Bitcoin, fell to levels around $28,400. As the market continues to decline, data shared by Whale Alert reveals that approximately $200 million worth of BTC was transferred to cryptocurrency exchanges within hours.
The Current State of Bitcoin (BTC)
The leading cryptocurrency, Bitcoin (BTC), has lost over 2.3% in the past 24 hours, dropping to levels of $28,400. The cryptocurrency market began the day with a decline due to the loss in value of BTC. Ethereum (ETH) also recorded a loss of over 2% in the past 24 hours, trading at around $1780.
The total market value of the cryptocurrency ecosystem has dropped to $1.13 trillion. Additionally, there has been an increase in volatility in the cryptocurrency market. According to Coinglass data, approximately $150 million worth of short and long positions were liquidated within the past 24 hours. As the market continues to decline, Whale Alert drew attention to the BTC transfers recorded throughout the day.
Whale Alert Shares Updated Data
Whale Alert, which shares updated data on large-scale cryptocurrency transfers made by addresses referred to as “whales” in the cryptocurrency ecosystem, drew attention to the BTC transfers recorded throughout the day. According to the data shared by Whale Alert, three different unknown addresses transferred more than $200 million worth of BTC to cryptocurrency exchanges within the day.
By sharing data on these cryptocurrency transfers, Whale Alert highlighted the transactions recorded throughout the day. According to Whale Alert’s updated data, an unknown address transferred 2,582 BTC worth an average of $73.8 million to Coinbase at current prices, while another unknown address transferred 2,906 BTC worth $82.8 million to Coinbase within the day. Additionally, a different unknown address transferred 2,584 BTC worth $73.9 million to Coinbase. Thus, according to the data shared by Whale Alert, an average of $200 million worth of BTC was transferred to cryptocurrency exchanges within hours.
