New Whale Cups 13,369 Bitcoin in a Single Transaction, the Largest in 4 Weeks

The wallet’s abrupt transition from a balance of $0 to $313 million in one fell swoop has triggered public attention. 

A new Bitcoin (BTC) whale just accumulated a whopping 13,369 BTC in a single transaction, going from a balance of $0 to $313 million in one fell swoop. The transaction represents the largest single transfer observed on the Bitcoin network in the past 4 weeks.

Behavior analytics platform Santiment recently called attention to the development through its official Twitter handle. “Track this wallet here as prices fluctuate going forward,” Santiment added.

? 8 hours ago, the largest #Bitcoin transaction in 4 weeks took place. This brand new whale address went from nothing to suddenly holding ~13,369 $BTC (worth ~$313.1M) after a single transfer. Track this wallet here as prices fluctuate going forward. ? https://t.co/Vk7GTw4diT pic.twitter.com/G2IwLP0tpp

— Santiment (@santimentfeed) February 4, 2023

The wallet was one of two recipient addresses in a transaction involving 13,501 BTC, with the second recipient address receiving 132.4 BTC. Following the transaction, the sending wallet now has an empty balance. Data from Bitcoin explorer Blockchair reveals that the transaction occurred today at 00:53 (UTC). 

While the second recipient address has so far offloaded all of its 132.4 BTC to two different addresses, the new whale has retained its 13,369 BTC. However, the value of Bitcoin has decreased by 0.55% since then, leading to an adjusted balance of $311.8M as of press time. The entity behind the whale address remains a mystery as of press time, but some proponents believe it’s an institutional investor.

Bitcoin Price Movements 

Meanwhile, the recent development comes on the heels of Bitcoin’s surge above the $24K mark for the first time since last August. Since starting the new year on favorable grounds, the firstborn crypto has persistently touched new highs last seen before the FTX implosion despite some periodic setbacks engineered by the bears.

BTC soared to a 6-month high of $24,148 on Thursday before facing opposition at the price point, leading to a subsequent dip below the $24K mark. While investors are torn between expecting further dips below the $23K support or a retest of the $24K level, notable analytics account Tedtalkmacros is forecasting a dip to a range between $20K and $22K on the back of the latest NFP data.

NFP data is due on Friday.

–> We'll likely get an opportunity to bid 20-22k BTC if data is hot ?
–> If below expectations, I'd expect no pullback + test of $28k

Exp. are for 193k jobs added + Unemployment @ 3.6% pic.twitter.com/dGjE4OEqf7

— tedtalksmacro (@tedtalksmacro) February 3, 2023

The latest report revealed that U.S. Non-Farm Payrolls (NFP) employment increased 517K last month, much higher than the estimate of 193K. Unemployment rate dipped from 3.5% to 3.4%, better than the expectation of a rise to 3.6%.

Tedtalkmacros had asserted that a higher figure would lead to a dip between $20K and $22K. 

Nonetheless, veteran analyst Peter Brandt noted last month that BTC needs to quickly reach a price target of $25.5K else it could be battered to the lows at $15K. The asset is currently changing hands at $23,329, down 0.83% in the past 24 hours.