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crypto.news 2025-03-17 10:38:45

Dormant whale sends 300 BTC to FalconX as Bitcoin nears $84k CME gap

Dormant whale sends 300 BTC to FalconX as Bitcoin nears $84k CME gap

A whale that has been dormant for 1.5 years has deposited 300 BTC to crypto brokerage FalconX alongside 1,050 BTC to two other wallets. According to data on SpotOnChain, an anonymous whale with $85.7 million in Bitcoin ( BTC ) holdings just sent 300 BTC through digital asset broker FalconX. At current market prices, the transaction is worth around $25.1 million in BTC. In addition to FalconX, the whale also sent 1,050 BTC, equal to around $87.2 million, to two fairly new wallets. At press time, the address still holds around $12.55 million worth of Bitcoin, or equal to 150,000 BTC. The last transaction recorded on-chain from the whale occurred on Aug. 18, 2023 when it received 1,500 BTC from market marker Cumberland at a price of $26,353, worth $39.5 million at the time. This means that the address has been dormant for nearly two years. According to data from crypto.news, Bitcoin has gone down by 0.44%. BTC is currently trading hands at $83,613. Bitcoin has been on a turbulent path in the past month, going down by more than 14%. Price chart for Bitcoin as it nears $84k in the past 24 hours of trading, March 17, 2025 | Source: crypto.news You might also like: A whale is being ‘hunted down’ for short positioning over 5,400 BTC with 40x leverage In the past day, Bitcoin reached a peak price of $84,693 before falling further to a $82,061 low and maintaining its value at around $83,000. In fact, BTC’s dive to the $84,000 threshold fills the CME price gap, which sets the stage for another potential price climb. Bitcoin is trading very close to the CME Gap at $84,000. Important level to watch! pic.twitter.com/pUUQLBORBo — Mister Crypto (@misterrcrypto) March 17, 2025 A CME gap is the disparity between the closing price of Bitcoin on the Chicago Mercantile Exchange or CME and its opening price when trading resumes. It is often used as an indicator for corrections after a sharp drop in the market. The CME gap is often referred as a “magnet” for Bitcoin prices. Bitcoin’s recent price drop filling the CME gap and the notable BTC whale movements could suggest increased market activity is on the horizon. Traders are already anticipating the next market moves that could very well influence Bitcoin’s price trajectory and overall market sentiment. You might also like: Bitcoin dominance nears 62% as altcoins struggle, highest since 2021

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