On Tuesday, October 18, researchers from the crypto analysis platform Cryptoquant identified an outflow of 48,000 bitcoin coming from the trading platform Coinbase Pro. According to the researcher’s summary of the situation, a large portion of the funds were old coins. Whale Transfers 48,000 Bitcoin Amid Coiled Market While bitcoin (BTC) has been trading under the $20K region and trading sideways, observers have witnessed a number of old coins move onchain. The onchain movement comes at a time when market volatility is expected. For instance, the latest Glassnode Insights report called “A Coiled Spring,” expects some bitcoin price fluctuations to occur in the near future. “The bitcoin market is primed for volatility, with both realized and options implied volatility falling to historical lows,” Glassnode wrote on October 17. “Futures open interest has hit new all-time-highs, despite liquidations being at all-time-lows. Volatility is likely on the horizon, and Bitcoin prices rare
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