Bitcoin Whale Moves 132K BTC, Triggers FOMO vs FUD Debate

A Bitcoin mega whale sent 132,000 BTC to Coinbase.
This move pushed the crypto Twitter space into a heated discussion.
The crypto community is wondering if the whale will trigger a FOMO or FUD response.

The Twitter crypto space is in a feud as crypto and Bitcoin (BTC) investors and traders discuss mega whale transfers. In the midst of multiple transactions of large amounts of Bitcoin (BTC), the crypto community debates what market is dominating.

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In detail, Lark Davis, a renowned crypto investor and trader, tweets about massive Bitcoin (BTC) transactions by a mega whale. As we can see from the tweet above, the whale has transferred 132,000 BTC to Coinbase.

Specifically, these Bitcoin (BTC) funds were moved in the last three days alone. In addition, the funds were sent to Coinbase. While it is quite the norm for crypto holders to buy and sell their digital assets, it can be alarming to see a large amount being sent.

In response to the tweet, a debate is sparked. To highlight, one tweet in particular says that the mega whale transferred their huge holdings into Coinbase from another wallet. However, it is only to make it look like the whales are buying more in order to create FOMO (fear of missing out).

In contrast, others say that sending large amounts of held Bitcoin (BTC) to exchanges does not create FOMO. Instead, the response argues that a move such as this will create FUD (fear, uncertainty, doubt).

Meanwhile, other responses observe how the same crypto wallet address had bought these Bitcoin (BTC) funds in the past during an ATH. Thus, the crypto community is speculating that the wallet belongs to exchanges who are now simply shifting funds.

An even more intriguing set of responses are implying that the crypto wallet address belongs to Elon Musk. Just recently, it was discovered that Tesla sold 75% of its Bitcoin (BTC) holdings. This left the mighty tech entity with 10,000 BTC in hand. Clearly, many are still expecting Tesla to either buy or sell more Bitcoin (BTC).

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.