SpaceX move 1,308 BTC through Coinbase after 3 years no move
SpaceX don move 1,308.45 BTC (~$153 million) Bitcoin go new address through Coinbase Prime after e almost dey for three years no move. The transfer reduce their holding from about 8,285 BTC go around 6,977 BTC. On-chain data show say the money pass through one CoinJoin mixer service go Binance deposit gateway. The wallet last big activity na 2021, when SpaceX first show their Bitcoin holding and later sell some during 2022 downturn. Traders no get official talk, dem dey divided if na sign say dem go sell soon or na just internal rebalance. History whale events like Germany own sell of 50,000 BTC for mid-2024 just make small price dip before e recover. Considering say whales dey still dey gather and crypto market dey positive, analysts see am as normal BTC wallet management with small long-term impact for Bitcoin upward trend. Market people suppose dey watch on-chain flows and exchange inflows for any short-term selling pressure on Bitcoin.
Neutral
The kainment na neutral because wen di unexpeted transfer of 1,308 BTC from wan SpaceX-link wallet fit trigger short-term selling pressure if di coins enter exchanges, historical precedent show sey di big whale movements like dis dem usually just cause small wain price drop then dem recover quick quick. Di absence of official statement show sey dis one fit just routine rebalancing no be liquidation. Together with ongoing whale accumulation and general bullish crypto environment, dis move no go fit change how Bitcoin dey trend long term. Traders suppose dey alert to on-chain flow changes for short-term wahala but fit expect stability for medium to long term.