Wealthy entities are taking the limelight at the Bitcoin market amid strengthened price volatility seen at the flagship crypto’s (Bitcoin) market.
Data retrieved from, advanced crypto tracker, Bitcoin Block Bot, revealed that someone moved 21,446 BTC ($415M) in block 659,379 some hours ago.
Whale alert! ? Someone moved 21,446 BTC ($415M) in block 659,379 https://t.co/m2Mu1YppTJ
— Bitcoin Block Bot (@BtcBlockBot) November 30, 2020
Many cryptos including Bitcoin is rallying strongly, and it seems the momentum trade is strengthening as mass media outlets embrace crypto coverage.
It’s important taking note that recent price action in the flagship crypto market indicates that a significant number of buyers have been aggressively buying at the $19,000 price support level which is marked by large entities.
This further illustrates that the demand for bitcoin is relatively high, as bitcoin whales curb broader pullback, at least in the near term.
At Monday’s trading session, Bitcoin hit an all-time high. This was captured by Gemini co-founder, Tyler Winklevoss saying, “Bitcoin just hit an all-time high! Onward and upward we go to the moon! Rocket.”
— Tyler Winklevoss (@tyler) November 30, 2020
Also, Bitcoin BTC Median Transaction Volume (2d MA) increased significantly in the last 24 hours. The current value is $722.02 (up 41.5% from $510.36) showing a huge amount of activity at the flagship crypto market.
Current value is $722.02 (up 41.5% from $510.36)
— glassnode alerts (@glassnodealerts) November 30, 2020
Bottom-line: Nairametrics believes the increased buying interests by such large entities are partly responsible for the relative rebound seen in the bitcoin market.
Explore Data on the Nairametrics Research Website