Whale Alert Detects a Large Bitcoin Transfer Involving 1050 BTC from Binance to an Unknown Wallet

As Bitcoin continues to reflect bullish signals, recording an intraday high of $87,892 on April 2nd, Whale Alert has detected a large Bitcoin transfer involving 1050 BTC

Cryptocurrency exchange Binance saw an outflow of 1050 BTC, valued at approximately $90 million, as detected by blockchain tracking service Whale Alert.

The transfer was spotted on Wednesday and links to the wallet address "bc1qcpflj68".

The wallet appears to have conducted various large transfers with multiple unknown addresses, reflecting up to 223 transaction counts.

As reported by U.Today, has also uncovered a mysterious Bitcoin movement between a wallet address that is closely similar to this, and a major US crypto exchange, Kraken.

The large amount of Bitcoin which appears to have been transferred to a cold wallet suggests that a whale investor or an institution has accumulated the assets to hold for the long-term. This implies that bulls are gradually taking over the market, hinting at further price break outs for Bitcoin and other major cryptocurrencies.

The transaction which tends to reduce the circulating supply of Bitcoin on Binance marks good news for investors.

Considering other internal factors that point at Bitcoin trailing a positive trajectory, bullish predictions for Bitcoin are on the rise as one suggests that BTC is ready to reach the $90,000 mark soon.

Apart from Bitcoin, other major altcoins are beginning to trade in the green zone although the broad market capitalization saw a decent decline of 1.25% over the last day.