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- $1.26B in Bitcoin Moves Mysteriously as BTC Hits $98K
$1.26B in Bitcoin Moves Mysteriously as BTC Hits $98K
Over $1.26 billion in Bitcoin was transferred between anonymous wallets, sparking speculation about large OTC deals. Meanwhile, a dormant whale moved 14,000 BTC.
Joe G & Money Talks
February 11, 2025 • Estimated Reading Time: 7 minutes
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What we will talk about today...
Bitcoin Miner Capitulation Signals Possible Bottom
XRP Rises Amid ETF Speculation and Ripple Partnership
$1.26B in Bitcoin Moves Mysteriously as BTC Hits $98K
Bitcoin miners enter a new "capitulation" phase, hinting at a local price bottom. Historical trends suggest this could precede a major rally.
Hash Ribbon indicator is triggering👇
"The Hash Ribbon is a market indicator that assumes that Bitcoin tends to reach a bottom when miners capitulate, i.e. when Bitcoin becomes too expensive to mine relative to the cost of mining. The Hash Ribbon indicates that the worst of the… x.com/i/web/status/1…— bitcoindata21 (@bitcoindata21)
11:36 AM • Feb 10, 2025
Main Points:
Miner Capitulation: Bitcoin’s hash ribbon indicator suggests mining costs exceed profitability.
Historical Pattern: Past capitulations preceded major BTC rallies, including the $108K surge in 2024.
Accumulation Phase: Analysts see this as an opportunity for mid- and long-term positioning.
Detailed Insights:
Hash Ribbon Signal: The 30-day hashrate MA dropping below 60-day MA signals miner stress.
Market Entry Zones: Historically, miner capitulation events marked prime buying opportunities.
Caution Ahead: The true reversal signal has not yet triggered, but accumulation may begin.
Bitcoin miner capitulation!
A new capitulation event has just started. We all know what it means when a Hash Ribbon buy signal eventually follows... A lot can happen between now and then. But we are entering a window of opportunity.
— Charles Edwards (@caprioleio)
12:09 AM • Feb 7, 2025
Bitcoin’s current phase suggests a potential price rebound, but uncertainty remains before a confirmed trend reversal.
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XRP Rises Amid ETF Speculation and Ripple Partnership
XRP price jumps 3% following increased ETF approval odds and Ripple’s new partnership with Unicâmbio. Analysts predict a potential surge to $8.
🚨XRP Monday Update!📈
#XRP held up nicely over the weekend, but it’s still consolidating... pretty much what we'd expected for Wave 4. This means that I still think it's possible to have one more low before this correction completes.Right now, I’m seeing the most alignment at… x.com/i/web/status/1…
— CasiTrades 🔥 (@CasiTrades)
3:16 PM • Feb 10, 2025
XRP almost finalised the consolidation on the daily Chart, as seen from the RSI lows.
Wave 3 is preparing to fire the bullet against the $5.85 parapet.
The short-term target is $5.85 and $8.76.
Supports: $1.88, $2.33We are warming up, phase II.
Not Financial Advice.— Dark Defender (@DefendDark)
9:58 AM • Feb 10, 2025
Main Points:
ETF Hopes: Bloomberg analysts give XRP ETFs a 65% chance of SEC approval.
Derivatives Surge: Open interest in XRP futures grew by $290M in 24 hours.
Ripple Partnership: Unicâmbio deal boosts cross-border payments between Portugal and Brazil.
Detailed Insights:
Institutional Interest: Major firms like Grayscale and Bitwise have applied for XRP ETFs.
Bullish Sentiment: Traders betting long on XRP as funding rates turn positive.
Price Predictions: Analysts see XRP targeting $5.85 short-term, with a cycle high of $8.76.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
Here's the table with the odds and some other details:
— James Seyffart (@JSeyff)
7:37 PM • Feb 10, 2025
With strong institutional backing and key partnerships, XRP may be positioned for significant growth.
₿itcoin reached $97,036. -1.00%
♢Ethereum reached $2,646. -1.07%
Over $1.26 billion in Bitcoin was transferred between anonymous wallets, sparking speculation about large OTC deals. Meanwhile, a dormant whale moved 14,000 BTC.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 7,300 #BTC (712,542,707 USD) transferred from unknown wallet to unknown new wallet
whale-alert.io/transaction/bi…
— Whale Alert (@whale_alert)
3:19 AM • Feb 11, 2025
Main Points:
Massive Transfers: Four transactions moved 12,887 BTC, with the largest carrying 7,300 BTC ($712M).
Whale Awakens: A long-dormant wallet transferred 14,000 BTC ($1.37B), but not to an exchange.
Market Impact: The transactions did not immediately affect BTC’s price.
Detailed Insights:
OTC Speculation: Analysts suggest the large transfers could be over-the-counter (OTC) deals.
No Immediate Sale: The dormant BTC was moved to another wallet, not an exchange.
Historical Patterns: Similar whale activity has surged as BTC nears new all-time highs.
14,000 Bitcoins Moved After 7–10 Years of Inactivity
“Despite the large volume, these coins have not been transferred to any exchanges, suggesting that they are not intended for immediate sale.” – By @DanCoinInvestor
Full post 👇
cryptoquant.com/insights/quick…— CryptoQuant.com (@cryptoquant_com)
12:04 PM • Feb 10, 2025
With Bitcoin’s rally gaining momentum, large transactions hint at strategic accumulation by deep-pocketed investors.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results