Re: Address 36png4nUpGkCrYnRXNR4PMSRFEgGadmh8S sent -25,160.31BTC to coinbase
large transactions like this one are happening almost every day and that is not even the biggest. the biggest ones in the past week has been 157,457BTC or $1.4 billion and 144,076BTC or $1.2 billion!!! if you think each time someone moves large amounts price should drop then price should drop literary every week and never rise. besides why does your mind directly go towards someone selling? why don't you assume that someone bought that much because of the drop?!!
he thought the coins were sent to coinbase. there's only so many things you can do when you deposit bitcoins to an exchange, especially one that doesn't offer margin trading. mainly, you can sell them.
well here is another thing to think about for those who from time to time quote one of these big transactions during every drop:
you can never sell large amounts on an exchange or even if you by some miracle sold it, you will never be able to withdraw. because not only the exchange won't allow it but also your banks, their banks and possibly other agencies red flag your ass.
in this case 25k bitcoin is worth more than $200 million... i don't think i have to explain how stupid that sounds
Not if the dumper was a governmental agency, or a bank. In this case they have it fully covered.
And if bitcoin drops $800 in a single day from a 25k BTC dump, I can only imagine what would happen if it was 1 million BTC.