Bitcoin, the leading cryptocurrency, continues to reach 60-day highs of $43,271 as the market turns bullish.
The blockchain tracking service Whale Alert observed four large bitcoin transactions worth $1.8 billion within an hour, in which crypto whales moved 41,671 BTC from one address to another.
A total of 10,400.90 BTC worth $446.35 million was sent from an unknown wallet to an unknown wallet.
Unknown wallets exchanged 10,415.93 BTC worth $447.34 million.
From unknown wallet to unknown wallet, 10,424.42 BTC worth $447.71 million were sent.
A bitcoin transaction worth $443.12 million worth of 10,430.15 BTC was sent from unknown wallet to unknown wallet.
There is still an accumulation of BTC by whales, while at the same time deposits of Bitcoin on exchanges are decreasing. Based on the latter, it’s possible that buyers’ pressure will increase. The trend is positive.
A typical trading volume on the FTX exchange for the day was $40 billion, with Bitcoin up 5.33%. At 8:11 am West African Time, the flagship crypto traded at $43,183.92.
Crypto analytics firm, Santiment reports that whales continue to increase their Bitcoin holdings as Bitcoin and other crypto markets recover from the downturn of May 2021.
A lot of Bitcoin ownership has shifted to the “millionaire tier” cohort in the past few months, as investors who own between 100 and 10,000 bitcoins acquire nearly half of Bitcoin’s supply.
Bitcoin addresses that hold 100 to 10,000 BTC currently own 49.11% of the total Bitcoin supply, and they’re still very near the all-time high of 49.18% made just last week. This key group of whales is one of our most solid indicators to watch.
According to Santiment, Bitcoin’s recent rise comes at a time when trader euphoria is waning.