The main global cryptocurrency, Bitcoin, has just experienced a mysterious whale transfer worth $ 170,911,571, according to data Supplied by the popular blockchain follow -up cabinet, Whale Alert.
The transaction, which involved 1,811 BTC, occurred on April 30, in the midst of several other large Bitcoin transfers recorded on the same day.
BTC returns to the red zone
The transfer of important bitcoin, which occurred between two unknown portfolios, occurs in the middle of a large Crypto market retreat, which saw the overall market capitalization of 1.50% in the last day, according to Coinmarketcap.
While Bitcoin had returned to the red zone after displaying notable gains in the previous days, the big transfer of Bitcoin suggests an attempt to buy whales to acquire the token at a lower price. In particular, the mysterious movement of assets occurred while Bitcoin had trouble keeping his bullish momentum, significantly from $ 95,208 to $ 93,076 on the same day.
You might also love
Although the anonymous nature of Bitcoin's transfer has sparked speculation on the reason for the decision, the 18.02% increase in the BTC in the volume of negotiation despite the drop in prices suggests that whales could actively sell their assets or redistribute them for strategic reasons.
Bitcoin for pressure on the climb
Although the recent Crypto Market dump has let investors wonder if the bull cycle is already rounding up or if it is a temporary retirement before a larger rally, the data of a chain analysis company suggest the first. He reveals that the sales orders are taking it more and more on purchase orders.
According to data, the 7 -day mobile average of the Spot Delta BTC volume has plunged considerably in the last three days. This metric measures the demand for Bitcoin and shows that more sales orders on the market are completed than purchase orders. Thus, low measurements indicate an increase in the sales pressure of Bitcoin.
Although this data was followed by a solid market rally which saw Bitcoin exceed the $ 95,000 mark, it seems that buyers have become hesitant, leading to the sharp drop in prices experienced today.
Although it remains uncertain if more volatile price actions are in advance, metrics suggest that investors can already take profits, although a massive accumulation of Bitcoin whales is still in progress.
