Bitcoin whales tended to BTC accumulation this week. From April 11 to 17, Bitcoin whales have mobilized a total of 78,031 BTC through 31 operations. In that sense, we want to tell you the details and the influence that whales may have had, or not, on the price of BTC.
As always, we emphasize that this activity must be put into context to better investigate the status not only of whales, but of the market as a whole. Before continuing, we must clarify that all the data in this publication can be viewed on the Whale Alert page, and Twitter. This is only a micro approximation to one of the factors that can influence the performance of BTC, but it is not the only one.
Summary of the activity of Bitcoin whales
At the moment, we can say that the predominant trend was accumulation. Specifically, 48,730 BTC went from exchanges to unknown wallets (62.44% of the weekly total).
Next, the second strongest trend was the introduction of liquidity to the market. Thus, we have that 18,520 BTC passed from unknown wallets to exchanges during the last week. With this, it represents 23.73% of the weekly total.
In third place, we place the transfer between exchanges, with 10,781 BTC (13.81% of the weekly total). Finally, no whale transfers were recorded between unknown wallets, according to Whale Alert.
How has Bitcoin’s performance been?
Crypto markets continued a second day of decline on Friday as Bitcoin held above fundamental support at $40,000 in European hours, data shows.
Bitcoin (BTC) bounced to $40,100 early Friday, after losing 2.9% on Thursday.
Bitcoin is trading near the $40K support level, which is at the lows of the first three months of the year. However, the current price action is an alarm signal among some traders.
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