MicroStrategy, Tesla and many other corporate companies continue to embrace Bitcoin more. In the cryptocurrency ecosystem, investors who hold large amounts of assets are called "Whales". The wallets of these investors are huge compared to the others, just like the whales.
Since Bitcoin works with blockchain technology, movements in the network can be followed publicly. There are many platforms that follow the transfers, movements and share them with the public. Significant activity has recently been detected.
About $2 billion worth of 44,162 Bitcoins were transferred to a new Bitcoin address. The source of funds is not yet known and the wallet is not marked as an exchange distribution address either. Considering the size of the money coming into the wallet, this new wallet is now the 14th richest Bitcoin address. Although it has not been announced yet, it is thought that this transfer may be a corporate move.
Next Week Matters For The Cryptocurrency Market
We will enter one of the most difficult weeks for cryptocurrency investors. Bitcoin has been trying to hold on to the $42,000 level for a while, and any negative news could bring the price down quickly. Here are some important events that may affect the market next week...
Russia - Ukraine tension
The US said in its latest statements that a hot conflict could begin next week. The Kremlin has denied this, but many countries, including Israel, are pulling their citizens out of the region as a result of incoming intelligence. The possible hot conflict will not only be a regional war and will directly affect many countries, including the European region. If countries are at war, no one wants to hold money on exchanges, and this includes cryptocurrency exchanges.
FOCM minutes will be released.
We will see the intention of the FED more clearly with these minutes. December statements were not considered very hawkish, but the minutes were very harsh. After the January meeting, a hawkish stance was displayed and the minutes are expected to come out tougher. How many base point rate hikes will come in March? The minutes need to be published so that we can get an idea about it. Bitcoin can make drastic moves in this situation.
February 16 stablecoin meeting
2 important meetings were held this month, and the last one was scheduled for February 16 by US politicians. The last two meetings did not affect the price much.