As we approach the end of this month, the whales remain active. However, the most striking thing is that precisely the Bitcoin whales accumulated a total of 46,103 BTC mobilized from exchanges to unknown wallets. Know the details about it here.
Cumulative trend: 46,103 BTC
For this activity summary, the main source has been Whale Alert on Twitter. According to this account, Bitcoin whales have mobilized a total of 93,390 BTC during the last seven days, through 41 operations. However, 49.37% of the total mobilized moved from exchanges to unknown wallets, which is an indication of some accumulation.
Meanwhile, 26.25% of the total (24,515 BTC) was mobilized from unknown wallets to exchanges, either for sale or to introduce liquidity to the market. Finally, 24.38% of the total was mobilized between exchanges.
Therefore, it is clear that the trend that predominated this week was that of accumulation. If this joins the previous report made by CryptoTrend, we will notice that Bitcoin whales have been accumulating BTC since the month of October began.
Bitcoin whale activity flow
Regarding the flow of activity, we will see that the first three days of the week represented an increase in activity, while the next two days were almost stable, and then fell on the weekend.
The busiest day for Bitcoin whales was undoubtedly Wednesday October 14, when the whales took their BTCs to different exchanges. On this day the price of Bitcoin had considerable rises and falls. The most remarkable thing is that it remained above US $ 11,540 for less than an hour, after having opened the day with US $ 11,392.55. The day closed with Bitcoin changing hands for a price of approximately US $ 11,388.
As of this writing, Bitcoin is priced at $ 11,479.13 according to CoinDesk, which is a 0.46% increase over yesterday. However, it represents an increase of US $ 84.28 compared to the beginning of September 12. In a week, it increased 0.74% after constant price fluctuations.
All of this coincides with the fact that institutions recently raised their bullish bets on Bitcoin futures listed on the Chicago Mercantile Exchange (CME). After all, when institutions invest they do so big, and this encourages the rest of the market. This is why it’s no surprise that Bitcoin whales (which are largely institutions too) took a similar approach, when hoarding BTC.