Number of large BTC transactions rose to a maximum for the first time since June 2022

Since the beginning of 2024, wallets with balances of 100-1000 BTC have been actively selling, while addresses with 1000-10 000 coins have been actively accumulating cryptocurrency

19.02.2024 - 12:22

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What’s new? Bitcoin whales demonstrate the highest level of activity for 20 months, noted the specialists of the analytics platform Santiment. Thus, the number of large transactions with the first cryptocurrency exceeding $100 000 rose to a maximum for the first time since June 2022.

Source: Twitter.com

What else is known? Analysts have recorded that wallets with a balance of 1000-10 000 BTC accumulated $12,95 billion this year. And addresses with 100-1000 bitcoins sold $7,89 billion worth of cryptocurrency.

The net difference between these wallets, which are usually associated with the highest levels of active whales, indicates about $5,06 billion in accumulated bitcoins on wallets with 100-10 000 BTC.

As of February 19, 11:00 UTC, bitcoin is trading at $52 341 on Binance, up by 1,05% overnight and 9,4% for the week (data from the CoinGecko aggregator).

Correlation between bitcoin and the stock market has reached zero

The probable reason is crypto traders waiting for the launch of spot BTC ETFs in the US

On February 9, Santiment recorded a sharp drop in the volume of bitcoin supply on exchanges. The indicator fell to 5,3%, which is the lowest since December 2017.

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