During the week of June 21-27, 2021, Bitcoin whales, in short, mobilized 54,690 BTC through 46 operations. Here it is worth mentioning that the Whale Alert reports on Twitter seem to have stopped including movements between unknown wallets and, therefore, this trend has not been registered so far this month. However, other trends were present and the whales made themselves felt.
Before continuing, we reiterate that all the data collected in this summary can be found in the reports of Whale Alert On twitter. This article is just a look at one of the factors that influence the price of BTC, and it is not isolated from the rest.
Bitcoin whale trends this week
The predominant trend of the whales during the analyzed time was the accumulation of Bitcoin, or withdrawal of liquidity and supply from the market. As the summary table shows, 63.43% of the weekly total went from exchanges to unknown wallets, which is equal to 34,692 BTC. For two days it was even the only trend (June 24 and 27).
Next, transferring between exchanges was the second strongest trend in terms of BTC transferred. A total of 10,479 BTC went from one exchange to another during the week (19.16% of the weekly total).
Regarding the introduction of liquidity in the market, we can highlight that the whales carried 9,519 BTC from unknown wallets to exchanges. The above is equal to 17.41% of the weekly total.
What happened to Bitcoin in the week?
At the time of writing, Bitcoin is worth $ 34,300, up 6.28% in the last 24 hours. This represents a considerable advance, but not enough to break out of the bearish range that we have seen Bitcoin in since the beginning of the month, following regulatory concerns in China that emerged in the market. In this scenario, the whales have chosen to withdraw their tokens from the market, and wait for a better context to emerge.