BTC Maintains 16.87% Spike Despite Slight Retracement and 19K Whale Transfer

  • PeckShieldAlert recently reported that a whale who held 19,000 BTC for 11 months had moved these Bitcoins to a new address.
  • The blockchain security team claimed that the transferred BTCs would be worth around $649.63 million at the reported time.
  • BTC is valued at $34,186.66, after observing a magnificent 16.87% spike over the week.

PeckShieldAlert, a blockchain security team, recently reported that a whale who held 19,000 BTC for 11 months had moved these Bitcoins to a new address. The 19,000 BTC was valued approximately at $317.84 million back on November 18, 2022; however, the blockchain security team claimed that the transferred Bitcoins would be worth around $649.63 million at the reported time.

BTC’s recent surge created a positive sentiment among traders and investors. In fact, BTC’s spike also caused the altcoin market to experience massive bullish sentiment over a few days as several digital assets crossed their resistance levels. Santiment, a market analytics platform, observed that several crypto’s top assets had the biggest days of whale activity since June or July.

Looking at the chart, it seems that Bitcoin observed a 20% surge in seven days regarding its whale activity, transactions that are above $100,000. Santiment also notified that Bitcoin witnessed 14,833 whale transactions which happened in one day and were highlighted the most since June’s ETF news.

Looking at Santiment’s chart, it seems that Bitcoin experienced a 20% surge in whale activity, with transactions exceeding $100,000, over the course of seven days. Santiment also reported that Bitcoin had 14,833 whale transactions in a single day, marking the highest number since the ETF news in June.

BTC, according to CoinMarketCap, is valued at $34,186.66, after observing a magnificent spike over the week. Additionally, Bitcoin is still able to maintain a double-digit surge of 16.87% in seven days; however, it registered a fall of 1.21% in 24 hours. The slight fall that the king of cryptocurrency faces could be a sign of price correction after observing a massive overbought sentiment.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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