A few weeks away from the Halving of Bitcoin it is appropriate to analyze the actions of Bitcoin whales at the moment. Therefore, we bring you a summary of its activity during this week that may help you to see a little better the general picture of BTC.
All the information you will see here is available at bill Whale Alert on Twitter, which is the traditional tool par excellence for making this type of report.
Bitcoin Whale Activity Before Halving
The start of the week was smooth for the Bitcoin whales. On April 19, they only made two transactions from exchanges such as Coinbase and Binance, totaling 4,991 BTC accumulated in unknown wallets.
Then, the next day, only five transactions were recorded, of which three ended in unknown wallets. The exchanges used were Binance, OKEx and Xapo. The accumulated total was 3,676 BTC. Meanwhile, the remaining two sell trades totaled 2,050 BTC. Thus, on April 20, the whales mobilized 5,726 BTC.
The week continues: what was up with Bitcoin?
For its part, during April 21 all the transactions of the Bitcoin whales were in the sense of accumulation, since the four registered ended up in unknown wallets. Three of them were made from OKEx and one from Coinbase, for a total of 6058 BTC accumulated.
On April 22, the Bitcoin whales made nine movements, of which six were from exchanges to unknown wallets. The accumulated total was 8,428 BTC, while the total that moved in the opposite direction was 4,400 BTC. Both figures add up to a total of 12,828 BTC mobilized in one day.
April 23: Accumulation Decreases
During April 23 the amount of BTC accumulated by Bitcoin whales was less than that sold on exchanges. Of six operations, three were made from unknown wallets to exchanges, totaling 3,600 BTC. The others in reverse totaled 2,648 BTC.
Thus, this was the first day of the week in which more BTC entered the market than those that came out, due to the action of crypto whales.
Rest of the week: Accumulation that predominates but movements that decrease in quantity
April 24 has been the day of this week in which more Bitcoin has been mobilized by crypto whales. Of 15 transactions, eight were made from unknown wallets to exchanges, but totaling 8,451 BTC. In contrast, the remaining seven trades totaled 11,483 BTC.
From this it is understood that the number of movements with cumulative intentions by the Bitcoin whales were less, but with more. Among the amount of BTC that went out and entered exchanges for whale action during that day, there is a total of 19,934 BTC.
Following this, as of this writing, there has been no record of crypto whale activity using Bitcoin, according to Whale Alert.
If we put together all the information collected throughout the week, we will notice that the Bitcoin whales mobilized around 52,375 BTC. Of which 37,284 BTC had unknown wallets as their final destination. With this it is understood that the general and majority trend was of accumulation of this cryptocurrency.
In other words, over 37,000 BTC came out of the market, and in contrast only just over 15,000 BTC were introduced. This could be said to have indirectly helped Bitcoin’s rise. Compared to the price chart, the day that there was the most activity is precisely the day that Bitcoin increased its price the most: Friday, April 24.
With this we could say that the Bitcoin whales maintain their short-term hopes in the effect of Halving, but some of them take advantage of the spikes like last Friday to make some profits.