BTC has seen massive maneuvers in the past. However, this week saw one of the biggest BTC moves in one day. On April 9th, when the tensions between China and Washington re-ignited, around 48.575 BTCs, amounting to 3.6 billion USD, were moved in a matter of a few hours.
This move is recorded as the biggest token move in 24 hours. Second to this is the 2022 move, which amounted to a similar move in the past. This could mark a strategic point in the grand scheme of things.
Largest BTC Move In A Single Day!
According to Cryptoquant, the wallets that received BTC showed no significant changes in the last decade. According to the website, the wallets were generally used to accumulate BTC for an extended period of time. Therefore, it is speculated that these wallets were institutional.
Furthermore, the timing has also raised some serious questions. It suggests that the move is an effort to minimise risks arising from macroeconomic development. There have already been some serious trade concerns due to major price upheavals. Therefore, it can be safely suggested that the move was an attempt to minimize risk.
This surprise move by some institutional wallets has raised some serious concerns. If this continues, people can dump or swoop tokens at the drop of a hat. Therefore, fueling the overall volatility of the market. Which can call for sharper price movements.
