The Bitcoin whales have managed to maintain a fairly active week, when it comes to mobilizing BTC. In general figures, they mobilized 185,490 BTC from December 07 to 13. Learn about the trends that prevailed and what you can expect in the short term from these players in the crypto world.
Summary of Bitcoin Whale activity in December
According to Whale Alert reports, the whales transferred 93,937 BTC between unknown wallets. In that sense, the foregoing translates into 50.64% of the total mobilized this week. This can be transfers of funds from the wallets of exchanges.
Meanwhile, a total of 39,954 BTC (24.54%) accumulated was reported against a total of 43,129 BTC (23.25%) transferred from unknown wallets to exchanges. From this it can be inferred that whales are at a time where they prefer to sell their tokens for profit.
Likewise, when evaluating the activity flow of Bitcoin whales in December, we will note that they reached a peak on December 10, when they mobilized 51,804 BTC. Particularly interesting this weekend is that the whales have slowed down as usual, but the few operations they have done have been of considerable size.
Have whales had an impact on the price of BTC?
During the week, BTC touched $ 17,700 according to CoinDesk. This happened between December 9 and 10. However, it then kicked off a rally targeting $ 19,000 and at the time of writing BTC changes hands for a price of $ 19,254. The latter represents an increase of 4.10% in the last 24 hours.
On December 10 there was more accumulation because the Bitcoin whales took advantage of the slight drop to buy, and then with the rise of BTC they sold part of their profits and decreased the accumulation. In this sense, we can say that it is not unreasonable to expect that they continue to introduce some liquidity in the market before the end of the year.
The reason is that as more companies become interested in BTC, it has the potential to increase in value. We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in Bitcoin.
Optimistic expectations for BTC remain for 2021. “Next year, as annual budgets reopen, I expect a huge increase in demand to enter the industry from companies and institutional investors,” said Michael Gord of Global. Digital Asset.