Mystery whale withdraws half billion dollars in Bitcoin from Coinbase, sparking speculation ahead of key CPI data
from the prominent U.S. exchange Coinbase to an undisclosed address. At the current market rate of approximately $62,200 per BTC, this transaction amounts to nearly half a billion dollars.A closer examination of blockchain data reveals a notable pattern in the movement of these funds. Following the initial transfer to a new address identified as"1JmaF," the Bitcoin was subsequently divided into smaller portions and distributed across 62 other addresses., equivalent to roughly $10.
The outcome of the April CPI report holds significant sway over market sentiment. A higher-than-expected CPI could trigger increased market volatility, while a more subdued report might temporarily ease concerns about inflation.withdrawal looms large. Is the whale, as such holders are often referred to in cryptocurrency circles, banking on favorable economic data and subsequent market growth?
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