tl;dr
Bitcoin (BTC) recently broke a new all-time high above $109,000, prompting three whale transactions on Robinhood, with 500 BTC worth $54,098,752 transferred to an unknown address. Another 500 BTC transaction worth $54,305,084 also left the platform in less than 15 minutes. In total, these transactio...
Bitcoin recently broke a new all-time high above $109,000, resulting in three whale transactions on Robinhood. Two transfers of 500 BTC each, worth $54,098,752 and $54,305,084, were made to unknown addresses, amounting to $162,502,588. Despite the high prices, high-net-worth individuals continue to favor Bitcoin. The spot BTC ETF market shows positive inflow, with almost $1 billion on Jan. 17, indicating high institutional demand. Bitcoin's technical strength suggests a supply squeeze ahead, potentially leading to a massive long-term rally.
The first observed Bitcoin transaction from Robinhood was 500 BTC worth $54,098,752 transferred to an unknown address, followed by another 500 BTC transfer. The third transaction, also 500 BTC, worth $54,305,084, left the platform in a span of 15 minutes. These transactions indicate the confidence of whales in Bitcoin, despite its high price. The coin remains favored by high-net-worth individuals, and potential long-term HODLing moves could be on the horizon.
Looking ahead, the spot BTC ETF market's positive inflow, nearing $1 billion on Jan. 17, and consistent buy-ups by institutional investors set a strong demand base for Bitcoin. Furthermore, Bitcoin's technical strength points towards an imminent supply squeeze due to the imbalance between mining and demand since the last halving, potentially paving the way for a massive long-term rally.