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On-chain data has revealed a surge of large Bitcoin transfers within the past 24 hours. Notably, a significant transfer of 999 BTC, valued at nearly $106,048,784, was detected. This transaction is striking as the BTC was moved to a newly created wallet, indicating the rise of a new Bitcoin whale.

According to Whale Alert, "999 BTC worth $106,048,784 was transferred from an unknown wallet to an unknown new wallet." This transfer is part of a broader increase in large Bitcoin transactions observed recently as Bitcoin sets new all-time highs.

Whale Alert noted multiple Bitcoin transactions in the past day, with the latest involving two 1,000 BTC transactions, each worth approximately $107 million, originating from unknown wallets to the Kraken crypto exchange.

Recent analysis by SpotOnchain offers insight into the surge of BTC transactions seen over the last 24 hours, coinciding with Bitcoin's rally to all-time highs. SpotOnchain reported that two institutions cumulatively transferred 23,664 BTC valued at $2.51 billion after Bitcoin reached an all-time high of around $108,000, executed in tranches.

The transfers outlined by SpotOnchain include:
– Mt. Gox recently moved 1,620 BTC worth $172.5 million—1,320 BTC to an internal wallet and 300 BTC to B2C2 Group. Since November 1, Mt. Gox has transferred 7,500 BTC (approximately $650 million) to B2C2 for creditor payouts, currently holding 37,404 BTC valued at $4.02 billion.
– Marathon Digital (NASDAQ:MARA) transferred 22,044 BTC worth $2.34 billion across 40 new, unidentified wallets; their current holdings stand at 14,364 BTC valued at $1.54 billion.

Bitcoin Hits New ATH

Bitcoin has reached a new all-time high as investors anticipate a Federal Reserve interest rate drop this week.

As per CoinMarketCap, the largest cryptocurrency by market capitalization rose by 2.59% to $106,564 at the time of this writing, peaking at $107,857 during Monday's trading session.

Investors are hopeful that the Federal Reserve will lower interest rates during its two-day policy meeting ending Wednesday.

This article was originally published on U.Today