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<ul>
 <li><strong>A Bitcoin whale transferred 7999 BTC from Coinbase to an unknown wallet amidst volatility.&nbsp;</strong></li>
 <li><strong>CoinBase saw multiple whale movements following its system-wide outage.</strong></li>
</ul>
<p>Amidst a struggling crypto market, bitcoin whales have made astounding movements. In the early hours of May 15th, a whale transferred 7999 BTC from Coinbase to an unknown new wallet. The whale movement of Bitcoin worth $494 million at the time of writing has raised questions on strategy among investors.&nbsp;</p>
<p>On May 14, crypto exchange Coinbase faced a system-wide outage briefly with users being unable to access their funds. The exchange platform reinstated its services shortly afterwards while also ensuring users of funds safety during the outage.&nbsp;</p>
<h3 class="wp-block-heading" id="h-increased-bitcoin-whale-activity-while-volatility-rises">Increased Bitcoin Whale Activity While Volatility Rises</h3>
<p>Coinbase has become the go-to-platform of multiple whale movements today. Following the Bitcoin whale transaction, the exchange also witnessed Ethereum and USDC transference to unknown new wallets according to Whale Alerts <a href="https://whale-alert.io/transaction/ethereum/0x45bc968f12f68cd21ab4413df569c12b5c8445c377a828445dbd909d5a065ed1" target="_blank" rel="noopener noreferrer nofollow">data</a>. Whether this is the result of yesterday’s malfunction is yet to be determined.&nbsp;</p>
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  <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 7,999 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> (494,138,045 USD) transferred from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> to unknown new wallet<a href="https://t.co/VVnMEFFAHy" rel="noopener noreferrer nofollow">https://t.co/VVnMEFFAHy</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1790575923021959557?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
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<p>The <a href="https://thenewscrypto.com/bitcoin-whales-on-the-move-whats-behind-accumulation-tactics/" target="_blank" rel="noopener noreferrer nofollow">bitcoin whale movement</a> was by far one of the highest in terms of market capital. The whale transferred the 7999 BTC in a total of 56 transactions to an unknown wallet. Bitcoin whale movements have been frequent since 2023 and have further increased this year.&nbsp;</p>
<p>Bitcoin market <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">prices</a> have hit a snag in the past few weeks post hitting the $73,750.07 ATH in March. The leading cryptocurrency has struggled to maintain prices above the $60K mark finding support at $61K this week. With occasional upward movements, Bitcoin has shown resistance to hit new highs after the price dips.&nbsp;</p>
<p>Moreover, the latter half of May 14th saw price declines to the $61,100 margin following a momentary hike to the $62K range. The whale’s movement amidst an absence of price recovery and a volatility index of 58.89 in the recent past, is baffling.&nbsp;</p>
<p>It must be noted that the whale movements linked to Coinbase weren’t unidirectional. The exchange witnessed inflows of two cryptocurrencies, <a href="https://thenewscrypto.com/ethereum-faces-rejection-at-2996-heading-towards-key-support-level/" target="_blank" rel="noopener noreferrer nofollow">ETH</a> and USDT since yesterday.&nbsp;</p>
<p><strong>Highlighted Crypto News Today:&nbsp;</strong></p>
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Bitcoin Whale Moves $494M from Coinbase Amid Volatility Surge

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