Unknown Bitcoin whale transfers 12,773 BTC to Kraken

From August 30, an unidentified major trader sent 12,773 BTC (nearly $150 million) to the Kraken cryptocurrency exchange in a 24-hour period, according to data from the Cryptoquant analytics service.

This was the largest balance inflow to the exchange during the summer of 2020. The previous record was set on June 2, when Kraken received 1,095 BTC at a price of $9,517.

Analysts note that this could indicate an impending drawdown in the price of the flagship cryptocurrency. However, because the gain in funds is recorded only on Kraken at the time of writing, there are no grounds to expect a major collapse in Bitcoin.

Earlier, experts noted that large players do not expect a mid-term drop in Bitcoin after the failed attempt to break the $12,300 level, betting on a short-term decline and then Bitcoin rising from the $11,000–$11,500 range.

At the time of writing, the price of Bitcoin stood at $11,883.

In mid-August, Kraken analysts forecast Bitcoin would rise by 50-200% in the coming months.

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