- Whale Alert reports the movement of 43,000 BTC from Huobi Wallet to Binance.
- Huobi reacts to the report by saying that it is just an internal flow of funds.
- Wu Blockchain tweets that this could be a flagging error by Whale Alert.
Whale Alert reports that 43,000 BTC were shifted from Huobi to Binance in the span of 2 hours. Huobi responds to the report by stating that it is an internal flow of funds, which is a normal withdrawal user behavior.
Wu Blockchain tweeted the report from Whale Alert, stating that it could be a whale alert flagging error.
According to Whale Alert, within 2h, more than 43,000 BTC in Huobi wallet flowed to Binance, about $820m. Huobi responded that the internal flow of funds caused by the normal withdrawal behavior of users. Should be a Whale Alert flagging error. https://t.co/YAJ5Wyeb2f
— Wu Blockchain (@WuBlockchain) September 22, 2022
A look at Whale Alert’s Twitter page reveals that thousands of Bitcoin have been on the move from Huobi to unknown wallets. As the exchange tags this as normal behavior, it is unclear whether these are normal user movements or a pump and dump.
The whales are currently staying vigilant as the market is still in a prolonged slumping stage. As per the data from WhaleStats, in the last five days, Ethereum whales have sold 1.4 trillion Shiba Inu.
The market that was showing signs of a slight recovery took a U-turn after the CPI numbers were out. The market was bracing for a fall after the possibility of a full point interest hike was also expected by many in the last week.
However, to combat the soaring inflation, the Fed announced a 75-bps interest hike after the FOMC meeting. This is the third straight 75 bps hike in a row.
The markets were, however, slightly trading in the green after the announcement, but dropped back into the red. At the time of writing, BTC is trading at $18,932 and ETH is trading at $1,277. ETH had lost 4% in the last 24 hours.