In the past 24 hours, two significant Bitcoin (BTC) transactions have caught the attention of the crypto community. This comes shortly after the FBI warned about the movement of funds associated with North Korean hacker organizations. The first transaction involved around 4,800 BTC (approximately $124.95 million), while the second transaction saw 2,910 BTC (close to $76 million) being transferred.
What stands out is that the second transfer was directed to Coinbase, one of the leading US cryptocurrency exchanges. Historically, large transfers to exchanges have sometimes signaled selloffs, leading to speculations of a potential decline in Bitcoin’s value.
The timing of these transfers is noteworthy because they coincide with the FBI’s warning about movements related to North Korean hacker groups. The FBI has expressed concerns that North Korea may attempt to liquidate Bitcoin, with nearly $40 million in funds linked to these cybercriminal groups being shifted in just one day.
While there’s no direct confirmation connecting these Whale Alert-reported transactions to the North Korean-associated BTC movements, their coincidental timing raises questions. If both sets of movements involve selling, it could impact Bitcoin’s price and potentially lead to further decline.
However, despite these developments, Bitcoin has shown an uptrend in the past 24 hours, with a 2.1% gain and a current market price of $26,386
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