Bitcoin Whales Will Set Off the Increase in Prices

0

After the upward movement in Bitcoin in the last 24 hours, many data analysis companies began investigating whale movements. Bitcoin whales are accelerating their trading at the edge of volatility in cryptocurrencies. The mysterious movements of whales, called large-volume investors, have entered the radar of many data analysis companies. According to data from GlassNode, Bitcoin whales are currently acting very voraciously.

The Number of Whales with 10.000 Bitcoins Is Above 100 Again!

The word “whale,” which is used quite often in the traditional financial sector, has an iconic phrase in this trillion-dollar sector with the popularity of cryptocurrencies today. Addresses that hold large amounts of any cryptocurrency are called whales. The most striking whales are in BTC and ETH, the most expensive cryptocurrencies.

GlassNode, one of the crypto data analytics companies, reported in a recent Twitter post that the number of addresses holding more than 10,000 Bitcoins has again exceeded 100. The largest-ever Bitcoin whale address has exactly 130 thousand 227 BTC. The movements of the address, which had only 104 thousand 553 Bitcoins at the beginning of 2021, attracted serious attention. Addresses that buy BTC in times of decline are releasing their Bitcoins through exchanges during times of rise.

Whales Are Making Purchases

bitcoin whale 1
Bitcoin Whales Will Set Off the Increase in Prices 2

According to the shares of data analysis companies, many whales have been buying since Bitcoin dropped to $18 thousand. Immediately after these movements, it is stated that Bitcoin jumped above 21 thousand dollars. Looking at the whale accounts that continue to collect Bitcoin (BTC), it is stated that many of them only hold BTC. 

Ethereum Whales Keeping on The Track as Well

The whales of Ethereum (ETH), which has increased by about 18% in the last 24 hours, also continue to buy. ShibaDoge (SHIBDOGE) is one of the altcoins that ETH whales focus on. The whales with 3,184,962 worth of SHIBDOGE in their wallets attract a lot of attention. After SHIBDOGE, ETH whales have VOY, PAN, ANCT, and THX in their wallets, respectively.

Can Purchase of The Whales Trigger the Increase in Price?

Especially the movements of BTC and ETH whales have had a significant impact on the market from past to present. Whales, which are very effective in the depreciation of cryptocurrencies, have caused noticeable increases in the prices of cryptocurrencies during their purchases.

In the last 24 hours, most of the buying movements, especially in BTC, have been verified by data analysis companies. It is confirmed that the rise in the price of BTC is also affected by the purchases of the whales. In Ethereum, the situation is more or less the same. After the activity in Bitcoin, Ethereum whales started to fill their wallets, and an increase of about 18% in the last 24 hours was triggered.

The whales are stirring and with their movements, the prices of cryptocurrencies are starting to shift. As we move forward into this new year, it will be interesting to see how these large investors continue to impact the market. Remember, cryptocurrencies are volatile investments and please keep that in mind as you consider adding digital assets to your portfolio. Are you bullish or bearish on Bitcoin? Let us know in the comments below!

Leave A Reply

Your email address will not be published.