Skip to content

What do the Bitcoin whales do in light of the current state of the cryptocurrency?

During our last review of Bitcoin whale movements, activity did not slow down. It’s only 72 hours from our last report and the Bitcoin Whales has moved over 76K BTC. We will review the data taking into account the context and the current economic framework.

From June 21 to the time of writing, Bitcoin appears to have received a break of between $ 20,000 and $ 21,000. Despite this, the Whales mobilized a total of 76,342 BTC.

The current situation and the volatility of Bitcoin on market movements and the movements of the Bitcoin Whales also deserve more consistent follow – up, this will allow us to determine the market’s intent and where it is going.

If we look at the chart below, we can see that liquidity injection into the market is the largest, followed by the accumulation of BTC. This may suggest a slight increase in confidence in Bitcoin price stability.

Bitcoin Whale Activity
Summary of Bitcoin whale activity.

As always, we emphasize that this activity needs to be put into context in order to better investigate the status of whales, not just the market as a whole. Before proceeding, we need to clarify that all the details in this publication can be viewed on the Whale Alert page and on Twitter. This micro-approximation is just one of the factors that can influence BTC performance, but it is not the only one..

Will the price stabilize during the crisis?

Over the past 72 hours, Bitcoin seems to have taken a breath in the midst of the downturn. However, supply continues to rise and Bitcoin is threatening to break the $ 22,000 barrier, currently trading at $ 21,118.

Bitcoin whale activity is a good reflection of the current situation. But we must remember that it is only an indicator of transactions. Wallets that exchange up to 8,000 BTC may be associated with exchanges or companies that mobilize them without intent to sell them.

In the image above we can see that the price has stabilized since our last Bitcoin Whales report. But this does not guarantee that it will continue like this, during the last weekend Bitcoin fell and then regained ground.

What is the current state of the Bitcoin market?

The current price is $ 21,118, that’s according to investment This represents a change of 5.76% over the last 24 hours. The current capitalization of Bitcoin is $ 395 billion. However, the volume fell by 13.17% in the last 24 hours, reaching $ 24,904,713,931.

After reaching an alarming drop of $ 17K, Bitcoin posted a 16% refund that pushed the price to $ 20K. This scenario allowed some stakeholders to reach the price levels they had hoped to “buy cheap”.

Bitcoin whale movements do not show a very clear trend, nor where the market is headed. The slowdown in volume over the past 24 hours may indicate an accumulated secrecy. However, the injection of liquidity into the market is good news for those who expect the price of Bitcoin to rise.

Start investing in cryptocurrencies and get Free Bitcoin when you buy or sell 100$ or more when you register in Coinbase