Bitcoin Whales Emerge as On-Chain Data Spots Flurry of Large BTC Transfers Within the Last 24 Hours

On-chain data has spotted a flurry of large Bitcoin transfers within the last 24 hours. Amid this, a massive transfer of 999 BTC

Large Bitcoin transfers have been spotted on-chain within the last 24 hours, as BTC sets new all-time highs. Notably, a massive 999 BTC stash, valued at nearly $106,048,784, has been observed moving to a freshly created wallet.

"999 BTC ($106,048,784) transferred from unknown wallet to unknown new wallet," Whale Alert reports. This transaction is part of a recent rise in large Bitcoin transfers seen in the last 24 hours.

Several Bitcoin transactions were reported by Whale Alert in the last 24 hours, the most recent as of writing time being two 1000 BTC transactions each, worth nearly $107 million, between unknown wallets and then the Kraken crypto exchange.

A recent analysis by SpotOnchain appears to shed light on the flurry of BTC transactions seen within the last 24 hours as the Bitcoin rally hit all-time highs.

According to SpotOnchain, two institutions moved a total of 23,664 BTC worth $2.51 billion after Bitcoin reached a new ATH of around $108,000. This was, however, done in tranches.

Here are the key takeaways from SpotOnchain's analysis:

Mt. Gox moved 1,620 BTC, valued at $172.5 million, in recent hours. Of the total sum, 1,320 BTC was moved to an internal wallet, while 300 BTC was sent to B2C2 Group. Since Nov. 1, Mt. Gox has moved 7,500 BTC worth nearly $650 million to B2C2, which is likely being used for creditor payouts. At the moment, Mt. Gox holds 37,404 BTC worth $4.02 billion.

Bitcoin mining company Marathon Digital also moved 22,044 BTC, valued at $2.34 billion, in recent hours. These funds were spread across 40 new, unidentified wallets and remain there. According to SpotOnchain, Marathon now has 14,364 BTC remaining, which is worth $1.54 billion.

Bitcoin hits new ATH

Bitcoin soared to a fresh all-time high on Monday as investors anticipated a Federal Reserve interest rate drop later this week.

The price of the largest cryptocurrency by market capitalization increased by 2.59% to $106,564 at the time of writing, according to CoinMarketCap. During Monday's trading session, it reached a new high of $107,857.

Investors expect the Fed to decrease interest rates this week during its two-day policy meeting, which ends Wednesday.