© Reuters $1 billion worth of Bitcoin (BTC) transferred from major exchange ahead of key Bitcoin ETF decision
U.Today – A surprising development unfolded within the crypto community as over a billion dollars was withdrawn from the reputed Kraken exchange as of yesterday and today.
The withdrawals, which ranged from 400 to almost 1,000 BTC per transaction, caught the attention of industry observers due to their large scale. In total, according to the data, more than 40 such transactions took place, sparking speculation and discussions within the crypto space.
The timing of the significant withdrawals is particularly notable, as it occurred just three days before the SEC’s impending decision. With the official announcement scheduled for January 10, the crypto community is eagerly awaiting the outcome while engaging in various speculations.
Kraken, a US-based exchange, is known for its regulatory compliance, as it is registered as a money services business with FinCEN and supervised by the Wyoming Division of Banking. The sudden move by such a well-regulated platform has raised questions about the motives behind these large-scale withdrawals.
too much to consider
Adding to the current uncertainties is the imminent third halving of the , which is expected in about 100 days. This event, considered short-term in financial markets, is set to significantly impact the valuation of digital assets. As pressure mounts and the industry navigates through these developments, the community is faced with events that even the most experienced participants find difficult to interpret.
Kraken’s mass outflow comes at a critical time, raising anticipation for both the ETF decision and the upcoming BTC halving.
This article was originally published on U.Today.
