{"id":35125,"date":"2022-09-05T03:24:38","date_gmt":"2022-09-05T07:24:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=35125"},"modified":"2022-09-05T03:24:42","modified_gmt":"2022-09-05T07:24:42","slug":"2013-idle-wallet-transfers-5000-btc-to-kraken-alarms-investors","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/2013-idle-wallet-transfers-5000-btc-to-kraken-alarms-investors\/","title":{"rendered":"2013 idle wallet transfers 5,000 BTC to Kraken, alarms investors"},"content":{"rendered":"\n
A significant sum of Bitcoin (BTC) was sent to an address on the Kraken cryptocurrency market, according to blockchain data.<\/h5>\n\n\n\n
\"2013
2013 idle wallet transfers 5,000 BTC to Kraken, alarms investors<\/figcaption><\/figure>\n\n\n\n

A total of 5,000 BTC were transferred from an outdated Bitcoin address\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> to Kraken, according to the crypto analytics platform of Ok Link.<\/p>\n\n\n\n

The 5,000 BTC were sent from a Bitcoin address made in 2013 when the value of the biggest cryptocurrency was lower than it is now.<\/p>\n\n\n\n

The value of the 5,000 Bitcoin was almost $100 million at the time of the transaction. Wu Blockchain<\/a>, a well-known crypto media outlet, also tweeted about the development.<\/p>\n\n\n\n

\u201cThe Bitcoin whale address (18xGHNrU26w6HSCEL8DD5o1whfiDaYgp6i ) transferred out 5000.01 BTC at 04:50:38 (UTC+8) on September 5th to the Kraken, which is worth about $100m now. The wallet was created, and bitcoins were transferred to this address in 2013.\u201d<\/p><\/blockquote>\n\n\n\n

The owner of the fund is anticipated to sell a sizable chunk of it, which could cause a decline in the price of the top asset class. Because many people worry that a transfer of this kind could further damage the value of BTC<\/a>, the transaction has continued to incite alarm in the cryptocurrency community.<\/p>\n\n\n\n

Miners sell almost 4,000 BTC, increasing selling pressure on Bitcoin<\/h2>\n\n\n\n

Crypto researcher Ali Martinez noted in a tweet on Friday that, according to information from CryptoQuant, Bitcoin miners have sold around 4,586 BTC in just three days.<\/p>\n\n\n\n

\u201cBitcoin miners have sold roughly 4,586 BTC in the last 72 hours, according to on-chain data from @cryptoquant_com!\u201d<\/em>\u00a0Martinez wrote.<\/p>\n\n\n\n

\n

#Bitcoin<\/use><\/svg><\/span><\/a> miners have sold roughly 4,586 $BTC<\/use><\/svg><\/span><\/a> in the last 72 hours, according to on-chain data from @cryptoquant_com<\/use><\/svg><\/span><\/a>! pic.twitter.com\/wB1CRxOJGA<\/use><\/svg><\/span><\/a><\/p>— Ali (@ali_charts) September 2, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Notably, Martinez's tweet was sent out just after Bitcoin Magazine announced on Monday that the second-largest increase in mining difficulty since January, 9.26%, had occurred. Large public miners have increased production as a result of long-term growth plans.<\/p>\n\n\n\n

However, this quick increase in Bitcoin\u2019s difficulty has also stretched mining profitability, which has decreased by 17% in the last 30 days. As a result, in order to increase their liquidity, miners are compelled to sell their mining rewards.<\/p>\n\n\n\n

Miners <\/a>began to sell in droves in June after Arcane Research reported that profitability had fallen by 80% from its peak in November. 3000 BTC were sold by Bitfarms during that time.<\/p>\n\n\n\n

It is important to note that increased selling pressure from miners may result in further declines in the price of Bitcoin. Before a bull cycle began, arcane research predicted that Bitcoin may fall as low as $10,350.<\/p>\n\n\n\n

Nevertheless, Bitcoin <\/a>is still being traded at about $19,872, up 0.3% over the previous day.<\/p>\n","protected":false},"excerpt":{"rendered":"

A significant sum of Bitcoin (BTC) was sent to an address on the Kraken cryptocurrency market, according to blockchain data. A total of 5,000 BTC were transferred from an outdated Bitcoin address to Kraken, according to the crypto analytics platform of Ok Link. The 5,000 BTC were sent from a Bitcoin address made in 2013 […]<\/p>\n","protected":false},"author":38,"featured_media":35129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83],"tags":[149,1671,353],"class_list":["post-35125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","tag-btc","tag-kraken","tag-wallet"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/09\/bitcoin-2-16379233633x2-1.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=35125"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/35125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/35129"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=35125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=35125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=35125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}