Elon Musk’s Tesla transfers 11,500 Bitcoin (BTC) worth $760 million to an unknown wallet, sparking concerns about the company’s next move with its BTC holdings
.This is the first time in the past two years that Tesla has moved its BTC holdings, making it the fourth-largest BTC holder
.
The company has not released any comments following the transaction, but the asset prices have remained stable and no major changes were witnessed on the exchanges
.
Bitcoin’s current price is near $66,880, with a modest 1.35% surge in the past 24 hours and a 20% increase in trading volume
.
Technical analysis indicates strong resistance at the upper boundary of a descending channel pattern, and on-chain analytics firm Coinglass shows weak market sentiment among traders.
