The well-known cryptocurrency tracker whale alert, which monitors large cryptocurrency transfers, has detected a large Bitcoin deposit made by Coinbase Institutional, the branch of the largest US cryptocurrency exchange that handles financial institutions.
That happened while Bitcoin, the world’s largest cryptocurrency, was set in growth large enough to surpass the $105,000 price level.
$52,933,217 Bitcoin shifted to Coinbase
The aforementioned data source spread the word about a considerable amount of Bitcoin, which was shoveled at the Coinbase facility about four hours ago. The deposit was powered by 509 Bitcoin at $52,933,217 at the time of the commencement of trading.
The transfer was made from an anonymous wallet and probably constituted a sale. The transfer has increased the legs at a price of around 1.5% today, at around 1.5% as BTC surpassed the $105,000 level and approached $109,100 per month.
🚨🚨509#BTC (52,933,217 USD) transferred from unknown wallet to Coinbase InstitutionalHttps://t.co/apjnaqy1fy
– Whale Alert (@Whale_Alert) May 12, 2025
Big drivers fuelling Bitcoin prices
A report released by on-chain data aggregator Santiment found that pioneering cryptocurrencies rose at prices driven by recent developments between the US and China in the context of trade tariffs imposed on almost every country in the world. The maximum 150% rate was set for Chinese products that enter the US market.
Santiment announced that the US and China had reached an agreement and reported that Bitcoin has exceeded $105,000 as details will be revealed later today. Apart from Bitcoin, Altcoins have begun to gather beyond the $2,500 mark and surpass Ethereum. There is currently a stock market in the Green Zone as traders now expect Trump’s tariffs to be no longer a hurdle to investing.
Breading Speed: The US and China have mutually stated that they have reached an agreement, with details reiterating that they will come later on Monday. Bitcoin ($104.1K) has climbed gently, with altcoins surgening over $2,500 on Ethereum.
The stock market is responding aggressively at https://t.co/semz0gwr2e pic.twitter.com/nnlygh7bej
– santiment (@santimentfeed) May 12, 2025
However, Santiment added that this could in fact be just a framework for the trading discussed in Geneva over the weekend, and that this is not a complete/running transaction yet. The data company is urging traders to wait for an official announcement from President Trump.
Last week, Bitcoin surged from the $96,140 level, above $104,000. The FRD has announced a solid decision to maintain current interest rates without raising or reducing them. This was taken as a clear positive indication by traders and investors.
