Bitcoin

<ul><li>Major BTC investor transfers $330 million to Bitfinex.</li><li>The investor accumulates a significant BTC position before the transfer.</li><li>Investor labeled “smart whale” after profitable maneuvers by Lookonchain.</li></ul>A significant <a href="https://thenewscrypto.com/tag/bitcoin-btc-3/" rel="noopener noreferrer nofollow">Bitcoin</a> investor has reportedly transferred around $330 million worth of Bitcoin to the cryptocurrency exchange Bitfinex. According to Lookonchain, a blockchain analysis firm, the incident is said to have occurred on Wednesday.As per the blockchain data, the BTC transfer was completed in a solitary transaction. Further, the analysis revealed that the transfer involved the movement of 11,000 Bitcoins from a digital wallet to Bitfinex, with each BTC priced at $30,114.The large transfer comes amid increasing volatility in the cryptocurrency markets, with <a href="https://thenewscrypto.com/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin</a> and other digital assets experiencing significant price fluctuations in recent weeks. Given the recent bullish run of Bitcoin, the transfer may signal the investor’s decision to capitalize on their gains.<h3 id="strong-btc-whale-s-wallet-reveals-accumulation-strategy-before-330m-transfer-strong">BTC Whale’s Wallet Reveals Accumulation Strategy Before $330M Transfer</h3>On the other hand, the data from Bitinfocharts revealed that the <a href="https://thenewscrypto.com/tag/whale-alert/" rel="noopener noreferrer nofollow">BTC whale</a> wallet had accumulated BTC over several months. At the time, the average purchase price for Bitcoin was $20K. This suggests that the investor had been building up a significant position in Bitcoin over time before making the large transfer to Bitfinex on Wednesday.Prior to the transfer, the wallet ranked as the 14th largest Bitcoin holder, with a total holding of over $1.2 billion worth of tokens. Moreover, the exact Bitcoin investor reportedly made two transfers to Bitfinex in mid-March, further adding to their sizable cryptocurrency holdings.On March 17, the investor moved 16,000 BTC worth around $427 million to the exchange. This is followed by another transfer of 9,500 BTC worth approximately $266 million on March 19. In light of the BTC whale actions, some experts have seen these transactions as profitable maneuvers. Consequently, leading blockchain analysis firm Lookonchain dubs the investor a “smart whale.”

Major BTC Investor Transfers $330M BTC to Bitfinex

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