Whales are moving enormous amounts of cryptocurrency as Bitcoin (BTC) once again displays its trademark volatility.
In a span of about 10 minutes, Bitcoin plunged from more than $10,000 to a low of $8,600 on the crypto exchange BitMEX, with data from the crypto analytics platform Skew showing $220 million in XBTUSD positions liquidated in a 12-hour period. BTC is at $9,515 at time of publishing, according to the aggregated price tracker CoinMarketCap.
An increasing number of crypto whales are emerging amid the wild price action.
One whale in particular initiated a massive transfer of 14,722 BTC worth $139.6 million between two wallets of unknown origin.