22.07.2025 23:59

Bitcoin's price briefly soared past the $120,000 mark, a dramatic surge accompanied by a daily trading volume exceeding $77 billion. This remarkable price increase followed the swift transfer of over $920 million worth of Bitcoin from Kraken exchange to unidentified wallets within a single hour. The sheer scale of these transactions, coupled with ongoing ETF purchases, points towards a significant accumulation pattern.

A major contributing factor to this price surge appears to be the activity of a large Bitcoin holder, or "whale." As reported via X posts from Whale Alert, the largest single transaction involved 4,166 BTC—worth over $496 million at the time. This was swiftly followed by further substantial transfers: 2,605 BTC (approximately $310 million) and 947 BTC (nearly $113 million). All three transactions, completed within 43 minutes, were flagged by Whale Alert with red alerts, signifying high-impact market activity.

These massive withdrawals from Kraken, marked by their speed and volume, strongly suggest increased investor confidence and a shift towards holding rather than trading. The transfer’s scale and rapid execution could indicate the actions of a single individual or a coordinated group of major Bitcoin holders, generating significant demand pressure. The coins moved were transferred to wallets without publicly known affiliations, suggesting a strategy of removing liquidity from the market. Notably, Kraken has not publicly commented on these events, and no system maintenance or platform issues were reported during this period.

This $920 million transfer represents one of the largest hourly Bitcoin outflows from a single exchange in recent memory. The speed and size of these transactions have undeniably fueled speculation surrounding whale behavior and its significant impact on Bitcoin's price. The mystery surrounding the recipient wallets adds another layer of intrigue to this already captivating market event.