"Hmmm, when do you think the price of BTC will go up, I'm tired of waiting."
According to blockchain intelligence firm Akrham, Bitcoin (BTC) cryptocurrency whales have moved more than 31,000 of those digital assets worth $822 million from their cold wallets, so there are concerns whether the price will be affected.
Reportedly, the trading firm's BTC holdings have been stored in a dormant wallet since late 2022, where the wallet received 21,600 BTC directly from crypto exchanges Binance and Huobi in early October 2022.
But it should be noted that Binance has played an important role in facilitating the movement of BTC for such trading firms.
Since FTX temporarily halted withdrawals in early November, the trading firm has withdrawn 15,000 from their Binance account further contributing to the movement of funds through its active exchange account to the cold wallet.
It is well known that BTC whales transactions like this can significantly influence market trends through large buy and sell positions including market manipulation tactics.
As of this writing, BTC price has jumped by 0.81% to $26,449 in the last 24 hours with a market cap of $512 billion but is still down 1.38% over the last week.
While the second largest crypto Ethereum (ETH) rose around 1.49% at $1,803 with a market capital of $216 billion and Ripple (XRP) gained 3.08% at $0.46 and increased 0.34% in the last seven days.
