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, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News
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Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K

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, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News

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, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News
, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News

The first quarter of 2021 has finally ended. It seems like it happened very quickly, right? However, this makes us more inclined to want to evaluate the performance of Bitcoin whales, and that is why we bring you this summary of activity during the beginning of April. In that sense, we have counted a total of 125 operations with Bitcoin that add up to a total of 226,194 BTC. Details below.

Before we begin we want to reiterate that this is only a micro approximation to what the Bitcoin market in general is. The whale activity reflected here is based mainly on the reports of the Whale Alert tool on Twitter, and they work as something illustrative.

, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News
Summary table of Bitcoin whale activity in the first days of April. Source: Whale Alert

What trends did the Bitcoin whales maintain in this first week of April?

During this week a trend that we have observed in previous reports for some weeks, the predominance of transfers between unknown wallets continued. This is in terms of the amount of BTC transferred. Thus, we find that 57.42% of the total was mobilized in that sense, or what is the same 129,886 BTC.

, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News

The day with the most BTC mobilized between unknown wallets was April 2 as our summary table shows, and thanks to this, that was the day with the most activity with BTC. Only in the day of this Friday the whales decided to move 42,664 BTC between unknown wallets. Now, if we evaluate it on a daily level, we will see that the only day where this trend did not prevail was Thursday, April 1, when it gave way to accumulation by whales.

Next, we have the second predominant trend: accumulation, or the transfer from exchanges to unknown wallets. Throughout the week, the whales took 53,651 BTC out of the market and thereby decreased the available supply. This represented 23.72% of the weekly activity with Bitcoin. According to the summary table, there has been no accumulation over the weekend.

However, the foregoing did not prevent some liquidity from also being introduced into the market. We affirmed this after seeing how 31,084 BTC went from unknown wallets to exchanges (13.74% of the total mobilized).

Finally, we find that transfers between exchanges remain the weakest trend, as only 11,573 BTC have been mobilized like this since March 29. The above represents only 5.12% of the weekly activity.

Meanwhile, Bitcoin …

As of this writing, Bitcoin is worth $ 57,546 according to CoinDesk, representing a 2.75% drop in the last 24 hours. Now, if we look at the weekly price chart we will notice that it is the first considerable retracement of the week.

In these 24 hours, the price range has fluctuated between US $ 56,552 and US $ 59,433. But, even with this setback, the annual returns remain at 98.39%, this means that if you had BTC at the beginning of the year, it is now worth almost 100% more than then. Positive for those who have chosen to be HODlers.

Additional comments

According to cryptocurrency analyst Willy Woo: “10% of Bitcoin’s money supply last moved at prices above the $ 1T market cap. This is a strong validation of BTC as a trillion dollar pool of assets, a new asset class has arrived. ‘ So express through his Twitter account.

He also noted that “In terms of wallet flows, $ 54k is the strongest area of ​​BTC price discovery by long-term investors since $ 11k. Typically, BTC forms a strong price discovery foundation 2-3 times above the all-time high (previous cycle) before launching into bull market highs. This phase is almost complete.

Conclusions

Although the pullback is notorious this weekend, it seems that hope is still not to be lost that Bitcoin can continue to break through barriers. However, while this is happening, Ether is challenging its own all-time highs. Therefore, some whales may sacrifice part of their BTC to make a profit with ETH as well.

Additionally, the activity summary shows us that there is not yet a very marked interest in introducing liquidity in the market or selling BTC. Accumulation is still on the whales’ agenda, as they may agree with some of Willy Woo’s conclusions.

However, we invite you to stay tuned for our next updates, and that you can follow the pulse of Bitcoin and the whales in real time during the month of April.



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, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News

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, Bitcoin whales kick off April mobilizing 226,194 BTC, as it struggles to surpass 60K, Forex-News, Forex-News

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