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, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News
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Bitcoin whales start August with 247,632 BTC mobilized. In what way?

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, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News

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, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News
, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News

During the week of August 02 to 08, 2021, Bitcoin whales mobilized 247,632 BTC through 73 operations. However, we also ask ourselves, what trends were most prominent? Find out here with us.

Before continuing, we reiterate that all the data collected in this summary can be found in the Whale Alert reports 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 whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News
Summary table of the activity of the Bitcoin whales in this first week of August. Source: Whale Alert

Bitcoin whale activity during this first week of August

The predominant trend in terms of BTC mobilized during the analyzed time was the transfer between unknown wallets. As the summary table shows, 85.38% of the weekly total went from exchanges to unknown wallets, which is equal to 211,429 BTC. This would be the continuation of another week in which the reports of Whale Alert they include transfers between unknown wallets in more than a month.

, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News

Next, transferring between exchanges was the second strongest trend in terms of BTC transferred. A total of 26,550 BTC went from one exchange to another (10.72% of the weekly total).

The next predominant trend was accumulation, but with a clear decrease from previous weeks. In that sense, the Bitcoin whales mobilized 22,266 BTC from exchanges to unknown wallets (8.99% of the weekly total).

Regarding the introduction of liquidity to the market, we can highlight that the whales carried 29,550 BTC from unknown wallets to exchanges. The above is equal to 7.68% of the weekly total.

Bitcoin and its performance

The BTC market has seen another strong week, with prices rising from a lows of $ 37,524 to a local high of $ 46,454. The market briefly traded above the 200-day moving average ($ 45k) over the weekend, before pulling back and beginning to consolidate. As a well-observed technical indicator of bullish / bearish bias, the markets’ response to a rejection or breach of the 200-day moving average is likely to be a source of attention in the weeks ahead.

If we investigate the dominance of transactions by size, we can see a clear trend at play. The dominance by on-chain transaction volume for securities exceeding $ 1M is clear. Since September 2020, the prevalence of these large transactions has increased from 30% to 70% of the total value transferred.

At the time of writing this post, BTC is changing hands worth US $ 46,189, representing a 5.75% increase in the last 24 hours. With the activity of the whales, we could say that the whales are not really generating the changes in the market at the moment, since most seem to be movements outside the market.



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, Bitcoin whales start August with 247,632 BTC mobilized. In what way?, Forex-News, Forex-News

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