A total of 4,000 Bitcoin (BTC), which is approximately $332 million, recently reached Kraken, one of the largest US-based cryptocurrency exchanges. Blockchain Tracking Service Whale Alert flagged the movement and linked it to the wallet address “BC1QCPFLJ68”.
The address has not been revealed much. It first appeared a year ago and received just 0.002 BTC from Kraken, which could have been just a test transaction. Since then, addresses have engaged in various transfers, bouncing bitcoin between different unknown addresses.
What’s interesting is that even after this latest transaction, the wallet still holds 11,986 BTC (valued at about $1 billion).
🚨🚨🚨🚨🚨 4,000 #BTC (332,938,782 USD) transferred from unknown wallet to #Krakenhttps://t.co/0wped1adqd
– Whale Alert (@Whale_Alert) March 30, 2025
Fastness platforms like Kraken are often used to efficiently on-load and offload assets, so dropping large quantities of Bitcoin on an exchange tends to show potential sales. But there’s nothing certain yet. Some have already speculated about the possibility of a sale, while others have pointed out that such transfers do not always lead to immediate market movement.
When this bitcoin hits the market, the size of the transaction can lead to a wave of sales pressure, which can affect price movements. However, for now, the price of Bitcoin does not seem to be evident. It fell below $83,000 and then a slight rebound, earning around 1% in the last 24 hours.
What is your true focus now? The rest of the Bitcoin in the wallet. The big question now is whether this is a one-off, or if there is more transfers if something bigger is being made.
