Following the recent decline in the Bitcoin price which has seen BTC go back below $8,000, questions have been asked about the manipulation of prices by whales. A recent whale move to Coinbase has led to speculations in the community.

The whale move in question occurred yesterday, with the whale moving 25,000 BTC ($213 million at the time of the first transfer) from an unknown wallet to Coinbase. The move coincided with a market dump that saw the price of Bitcoin drop dramatically. 

BTC/USDT Chart provided by Tradingview

Bitcoin saw a 9.21% decline in price over a 4 hour period, during the same time, the 25,000 BTC whale managed to dump their BTC on Coinbase. 

Whale Alert@whale_alert

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25,160 #BTC (213,365,388 USD) transferred from unknown wallet to #Coinbase

Tx: https://whale-alert.io/transaction/bitcoin/b53321a92835b607f94af4703fd0a576209e48f02037f187d4fe6e6443daead3 β€¦75010:39 PM – Jun 3, 2019Twitter Ads info and privacy332 people are talking about this

Two notable outgoing transactions following the 25,160 BTC incoming move to Coinbase, saw 14,160 BTC moved out as well as 11,000 BTC also moved out shortly after.

Whale Alert@whale_alert

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14,160 #BTC (112,631,761 USD) transferred from #Coinbase to unknown wallet

Tx: https://whale-alert.io/transaction/bitcoin/3cf3e3d9ad9f2dd8e5f71a6530a9081eaa35d819e17bc654f99b9d40675eed12/1 β€¦16512:34 AM – Jun 4, 2019Twitter Ads info and privacy64 people are talking about this

Whale Alert@whale_alert

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11,000 #BTC (88,693,989 USD) transferred from #Coinbase to unknown wallet

Tx: https://whale-alert.io/transaction/bitcoin/761e464ef57f8ce0fd8064fcc6b52c4529778b07cbaae4d84aa546ddb3fc5152 β€¦1471:15 AM – Jun 4, 2019Twitter Ads info and privacy53 people are talking about this

What’s notable about the outgoing amounts is that they equal the 25,160 BTC incoming transaction. What is also worth noting is that the original transaction was valued at $213.36 million, and the outgoing transactions totalling the same amount of BTC, were estimated at roughly $200 million. Essentially the whale sold the top and immediately bought back the dump, netting a profit of $10 – $15 million in the process. There is also a $10 million USDT move shortly after the BTC outgoing whale moves, which could be the whale moving profits out of Coinbase

Whale Alert@whale_alert

10,000,000 #USDT (9,928,227 USD) transferred from unknown wallet to unknown wallet

Tx: https://whale-alert.io/transaction/bitcoin/b0a9755c65b41e3c69204d9708ddd4b12aa7b935f7f219599333d50e4ad203bd …161:32 AM – Jun 4, 2019Twitter Ads info and privacySee Whale Alert’s other Tweets

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