Recently, significant Bitcoin transactions totaling 6,499 BTC and 2,359 BTC have taken place, with the first transaction alone valued at nearly half a billion US dollars. These enormous transfers were conducted between unknown blockchain addresses. Specifically, 6,499 BTC and 2,359 BTC were transferred from the same wallet, labeled -vtv93w.
Bitcoin is currently recovering from a recent dip, following four consecutive days of outflows from Bitcoin ETFs. This downturn sent waves through the cryptocurrency market, causing a 4.05% drop in Bitcoin’s price to around $64,360. Over the past 24 hours, Bitcoin has shown signs of recovery, striving to surpass the $65,590 mark. However, it has faced resistance and is presently trading at $65,148.
Multiple factors contributed to Bitcoin’s recent decline, notably the absence of inflows into spot Bitcoin ETFs on June 18th. The Grayscale Bitcoin Trust experienced significant outflows amounting to $62.3 million, which was only surpassed by Fidelity’s ETF, which saw $83 million worth of BTC withdrawn. This marked the fourth consecutive day of outflows, according to the analytics platform @spotonchain on X.
Samson Mow’s Bold Bitcoin Prediction
Earlier this week, prominent Bitcoin advocate Samson Mow reiterated his bold prediction that Bitcoin would reach a value of $1 million, a forecast he made earlier this year. Mow, the CEO of Jan3, expressed his confidence in this outcome, though he acknowledged the uncertainty around the timing and pace of this rise. In his previous tweets, Mow highlighted daily inflows into Bitcoin ETFs and the Bitcoin halving event in April as key catalysts for this remarkable price increase in the future.
Read more Bitcoin at a Critical Juncture: Will It Bounce Back or Plummet?
However, Mow recently tweeted that the absence of “Godzilla candles” in Bitcoin trading suggests a higher likelihood of witnessing an “Omega candle.” He even predicts that Bitcoin could suddenly surge from $70,000 to $200,000 overnight.
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