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According to a tweet published by Bitgrow Lab founder @Vivek4real_, an anonymous crypto whale has transferred a mammoth-sized amount of Bitcoin – 23,785 BTC worth a whopping $1.58 billion in fiat.
Someone just moved 23,785 #Bitcoin worth $1.5 billion 👀 pic.twitter.com/CEDkkLQ8ov
— Vivek⚡️ (@Vivek4real_) March 7, 2024
Cryptocurrency transactions are usually made much quicker than via a traditional bank and reach the destination wallet in less than an hour unless there are technical difficulties with validation. Besides, they fees charged for them are usually tiny unlike with banks.
Transferring 1.5 billion dollars via a bank would take several days and the fee for it would be tremendous.
Bitcoin price action after ATH
In the meantime, the world’s flagship cryptocurrency Bitcoin has demonstrated a 6.49% increase within the last 24 hours, rising from $62,823 to the $66,898 level where it is trading at the time of this writing.
The key support level for #Bitcoin stands at $66,112, marked by a substantial volume of over 306,676 $BTC transactions. Should #BTC break below this pivotal threshold, eyes will turn to $60,600 as the next crucial support zone. pic.twitter.com/etuBRlvIOR
— Ali (@ali_charts) March 7, 2024
After soaring to a new all-time high of approximately $69,200 on March 5, Bitcoin suddenly plunged by a massive 14.17% to hit a local low of $59,336. A recovery followed quickly and within the last two days, BTC has regained 12.31%.
Cryptocurrency trader and analyst Ali Martinez popular on crypto Twitter has published a post where he says that at the moment the key support level for Bitcoin is $66,112 – it is here where more than 306,676 Bitcoin transfers took place. Should the flagship cryptocurrency plunge under this crucial level, the next crucial zone of support for Bitcoin will be found at $60,600, he tweeted.
Elon Musk's Grok confirms Bitcoin ATH, ChatGPT does not
Earlier this week, tech mogul and billionaire Elon Musk took to Twitter/X to quote a tweet which stated that the recent Bitcoin all-time high had caused a totally opposite reaction of xAI’s Grok AI chatbot and of ChatGPT.
If the former confirmed that this historic price peak of $69,200 was reached, OpenAI’s ChatGPT denied the news. Musk created xAI to oppose OpenAI and its headline product ChatGPT which he believes to be woke since it refuses to discuss certain sensitive topics with users. Last week, Musk filed a lawsuit against OpenAI and its CEO Sam Altman for violating the company’s initial chart of being a non-profit company. OpenAI has struck back at Musk by submitting early correspondence with him to court.