Bitcoin whales take action: $ 1.2 billion worth of BTC has been displaced!
Bitcoin spends 2021 at highs. Bitcoin whales are also quite active.
Bitcoin whales mobilize $1.2 billion
Bitcoin whales have moved in the last few days after Bitcoin’s appreciation. Major Bitcoin accounts moved 21,334 Bitcoins in three separate transactions on April 1. ported to a digital wallet at 40. An anonymous user reportedly moved 7,134 BTC worth $420 million to an unknown crypto wallet. Transfer took place at 20:04. In addition, Whale Alert stated that at 6:39 pm on the same day, a transaction worth 2,200 Bitcoins took place from an unknown wallet.
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All transfers total value of around $1.2 billion. Coinbase also saw major Bitcoin exits last week. Nearly $1 billion worth of BTC outflows from the crypto exchange within 24 hours.
Bitcoin and Ethereum are moving from leading crypto exchanges to cold wallets amid fluctuations. Bitcoin briefly hit $60,000 on April 2. BTC is currently trading close to $59,500 with a market cap of over $1.1 trillion. Ethereum, the most valuable cryptocurrency after Bitcoin, exceeded $ 2,000 today. The value of ETH has increased by more than 25% in the last 7 days. Furthermore, Whale Alert stated that a crypto whale moved 48,399 ETH to an unknown wallet.. The total value of the transaction is approximately $96 million.
Bitcoin’s has increased by more than 110% since the beginning of the year.. According to Finance Magnates, this year was the best first quarter performance since 2013.. However, BTC’s dominance is declining due to the rise in other digital currencies such as Ethereum and Binance Coin.
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The whales are moving, is the trend changing?
Although Bitcoin seems far from the ATH peak, it is in an uptrend.. However, as Bitcoin rises, it does not go unnoticed that BTC-rich accounts are decreasing.. Whales are selling profits.
Glassnode According to data from the beginning of February, the number of whale addresses holding 1000 or more BTC decreased by 8%. On-chain data from Glassnode shows both retail and whale investors selling profits in recent weeks.
Popular market analyst Lark Davis stated that the “rich list”, the decline in addresses does not mean the end of the bull trend.
…Whale addresses are selling. This doesn’t mean that the bull trend is over, it just means that profit taking is taking place.
Especially Coinbase stock market data shows Bitcoin buying pressure easing. The low demand for Bitcoin in Coinbase compared to Binance can be interpreted as a decrease in institutional investor interest..
Live BTC price: $ 31,302.00
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Bitcoin whales are at it again! strong>
As Bitcoin approaches an all-time high, a giant Bitcoin whale emptied its $500 million wallet.
Whale, as the price of crypto approaches an all-time high; He suddenly emptied his wallet holding about $500 million worth of BTC.
Equivalent to about $500 million, 8,648 BTC transactions were first detected by BTC Block Bot and posted on social media.
114. The cost of this transaction, which completely reset the balance of the largest Bitcoin wallet, was just over $ 50.
Bitcoin whale moved its funds to two separate wallets; sent 4,000 BTC to one and 4,684 BTC to the other. Meanwhile, none of the addresses used in transactions appear to be associated with cryptocurrency exchanges or other services.
This likely means that the whale is not moving its funds to sell in the market or increase selling pressure.. Instead, the whale may have moved the funds for an over-the-counter (OTC) deal or aimed to increase its own security by moving funds in the cold wallet.
The $500 million transaction is the largest.. although it emptied the wallet, of course this is far too small compared to the largest BTC transactions ever recorded.
As such; In just this month, a whale processed a massive $4.5 billion BTC transaction as Bitcoin fell from $55,000 to $43,000.
The $4.5 billion transaction by cryptocurrency exchange Bitfinex is thought to be part of a routine security procedure.
Finally, data shows that whales have been accumulating more and more BTC over the past few weeks.. Therefore, the CEO of a popular cryptocurrency analytics platform said that in the event of a drop, the cryptocurrency’s price is unlikely to drop below $44,000.
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Guide to understanding Bitcoin whale behavior
It is possible to have an idea about the fluctuations in the prices of cryptocurrencies related to the tracking of loaded transfers. Transfers generally take place in 3 types:
1- Transfer from unknown addresses to exchanges: In this case, a mass sale and correction can be expected about the relevant cryptocurrency.
2- Transfer from exchanges to an unknown address: In this case, it can be thought that the investor has taken a long position in the relevant cryptocurrency.
3- Transfer from an unknown address to another unknown address: Investor behavior on this issue is quite uncertain.
We would like to point out that there are uncertain interpretations in all 3 possibilities above.. FREQUENTLY ASKED QUESTIONS ABOUT BITCOIN Whales
The most frequently asked questions about Bitcoin whales and cryptocurrency whale movements.
What does stock market whale mean?
Mainly ”whale’‘ is used for those who take very large positions in the markets. Likewise, owners of large amounts of bitcoins or cryptocurrencies in cryptocurrency markets are also called whales.. for more info…
What does bitcoin whale mean?
Bitcoin whales are investors who have traded thousands of times on exchanges and bought a huge amount of BITCOIN at a cheap price in the early period. Again, large investors and mutual funds that trade in crypto money markets are also considered Bitcoin whales.. for more information…
How many Bitcoins do you need to become a whale?
Although it varies according to the value of Bitcoin, those who have 1000 Bitcoins are generally defined as bitcoin whales.. for more info…
How much of all Bitcoins do whales have?
Whales have between 55-60% of the total Bitcoin in the market. for more info…
What is the bitcoin whale rate in the market?
Less than 1% of cryptocurrency wallets fall within the definition of whale. for more information…
How are bitcoin whales affecting the market?
Bitcoin whales are influencing the market by uploading Bitcoins to exchanges, selling a lot and quickly changing direction.. For more information…