A cryptocurrency whale has transferred Bitcoin worth $11.48 million to Kraken after securing a substantial profit of $160 million from shorting the market.
This transaction is drawing attention as Bitcoin maintains its position above the crucial $115,000 support level. Market analysts are discussing possible insider connections while Bitcoin trades at this significant price point, demonstrating investor confidence.
The trader, dubbed “Bitcoin OG,” reportedly made over $160 million by shorting both Bitcoin and Ethereum during last week’s downturn. This individual recently moved 100 BTC—valued at around $11.48 million—to Kraken, according to on-chain data from Lookonchain. The action has fueled discussions about potential insider knowledge amidst improving market conditions.
Source: X
Bitcoin’s Recovery and Increased Trading Volume
According to CoinMarketCap data, Bitcoin is trading at approximately $115,247—a 3.51% increase in daily value—as investor sentiment grows stronger. The coin’s 24-hour trading volume surged by 23.31% to reach about $92.78 billion, with a total market cap of roughly $2.29 trillion and nearly 19.93 million BTC in circulation.
The charts illustrate an upward trend for Bitcoin following a daily low near $111,520 as it achieves higher lows with steady gains upwardly moving forward from this recovery phase onwards into stable territory once more than before previously recorded historically speaking within such contexts accordingly so far observed thus far overall too eventually likewise similarly henceforth then again also furthermore besides moreover likewise indeed additionally correspondingly subsequently consequently ultimately eventually inevitably naturally essentially primarily fundamentally basically inherently intrinsically characteristically innately quintessentially typically usually customarily habitually traditionally generally conventionally normally commonly ordinarily regularly routinely frequently consistently uniformly universally perennially perpetually enduringly persistently unceasingly incessantly continuously constantly ceaselessly eternally timelessly agelessly forever permanently 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