With all the boom that the price of Bitcoin has had, we have decided to review the activity of the Bitcoin whales. For this we take as a reference the reports of Whale Alert during the weekend. Specifically, we have monitored your activity from November 20-24. Are Bitcoin Whales Hoarding BTC Again? Let’s see.
First of all, we must emphasize that during this period of time there have been 46 operations with Bitcoin. The total mobilized was 67,508 BTC, and 49.14% of the total was accumulated. This translates to 33,176 BTC. The day with the most accumulation was last November 20, as 11,949 BTC were mobilized from exchanges to unknown wallets.
Meanwhile 18,804 BTC were taken from unknown wallets to exchanges, implying a possible sale at this time. However, it still does not exceed the accumulated amount. Here it should be noted that the whales usually do not have much movement on weekends, but on this they remained.
Bitcoin whale activity stream
Bitcoin whales have maintained a more or less constant activity. However, what can be noticed is that it has been on the rise, reaching 30,137 BTC on November 24. The peculiarity of this day is that there were two operations between unknown wallets unlike the previous days.
What is happening to the price of BTC?
At the time of writing, the price of Bitcoin is around $ 19,169 which represents a 5.01% increase from yesterday. In that regard, it is understandable to see that Bitcoin whales are hoarding BTC.
The whales that sell BTC right now are those that have been waiting for this bullish rally for a long time. With this happening, Bitcoin is finally close to witnessing the reach of its all-time high, and perhaps breaking it.
It is no wonder that we continue to see active Bitcoin whales, and drawing liquidity from the market, in order to produce an increase in the price of BTC.
Do you think Bitcoin whales will continue this accumulation or will they simply put their coins on exchanges? Let us know in the comment box.