The second week of February has been considerably active for Bitcoin whales. We can affirm this taking into account that they have mobilized at least 220,569 BTC through 146 operations from 08 to 14 February. That being the case, it is valid to ask ourselves the details about it. For this we use the Whale Alert reports on Twitter, and here we bring you a summary of the activity of the Bitcoin whales.
Bitcoin whale activity in the second week of February
First of all, the most predominant trend in terms of transfers with Bitcoin was undoubtedly that of movements between unknown wallets. Throughout the time studied, the whales transferred 103,351 BTC in this sense, which represents approximately 46.86% of the total.
However, among the sales or accumulation pressure, the accumulation pressure prevailed much more. This week 72,733 BTC were transferred from exchanges to unknown wallets. The day with the highest accumulation was February 9, as shown in the summary table. As we approach the weekend, the accumulated amounts decreased, but they continued to be higher than the amounts taken to exchanges for sale.
In fact, the weakest trend was precisely that, the introduction of BTC on exchanges. In this sense, 21,897 BTC were registered, while on the other hand, the whales transferred 22,588 BTC between exchanges.
This weekend Bitcoin set a new all-time high of $ 49,700, putting 50K a surprising distance. However, at the time of writing, Bitcoin is worth $ 46,659, representing a decline of just over 2% in the last 24 hours, according to the ProBit exchange.
This event can be supported by several interesting events. For example, Bloomberg quoted people familiar with investment banking as saying that Morgan Stanley’s Counterpoint Global investment unit is exploring a stake in Bitcoin.
The record comes as analysts have described that institutional investors’ interest in Bitcoin is growing at a staggering rate, and so whale activity is understandable.
For this Monday, we can expect more strength in the activity of the Bitcoin whales, but not necessarily of sale, as they expect the price to continue increasing. They may even be supporting that trend by accumulating their tokens, and taking them off the exchanges.