Bitcoin whales are now moving at the speed of light in the world’s most popular crypto market.
Whale alert! Whale Someone moved 10,102 BTC ($115M) in block 652,561
Whale alert! ? Someone moved 10,102 BTC ($115M) in block 652,561 https://t.co/zEDpKdQFRk
— Bitcoin Block Bot (@BtcBlockBot) October 13, 2020
Explore Data on the Nairametrics Research Website
Why it’s happening: Global investors and crypto-traders are now cashing in on some of their profits, as the crypto market is awash with cheap money coming from stimulus packages from global central banks, and global inflation hitting a record high.
Furthermore, BTC dominance, the metric that measures bitcoin’s (BTC) market capitalization against the valuations of the rest of the crypto market economy is over 58%. Bitcoin (BTC) is up 6% during the last seven days and 19% for the last 90 days
While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.
Quick fact: At the BTC market, investors or traders who own large amounts of BTCs are typically known as Bitcoin whales. This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.