According to blockchain service Whale Alert, which tracks large amounts of crypto transferred by various market participants, in the past three hours, two gargantuan lumps of Bitcoin were sent between wallets tagged as "unknown."
Whales shift 25,000 Bitcoins
These were two consecutive transactions that occurred at 11:24 UTC. One of them carried 10,157.578 BTC (totaling $521,948,400). With the other transfer, 15,052.245 BTC was shifted—the equivalent of $773,461,440. The two transactions are worth $1.295 billion in total.
Most likely, these transactions, due to their massive size, have either been made by crypto whales or are part of an OTC exchange.
Bitcoin recovers the $51,000 level
As reported by U.Today a day earlier, the flagship digital cryptocurrency surged above $50,000 from the $48,600 zone and hit the $51,000 level, rising 5% on the day as traders were hoping for the "Santa rally" to occur.
That was the highest price mark reached by BTC since Dec. 7, when it hit the $42,000 zone. Now, it is over 22% above that low.
The "Santa rally" term was invented by U.S. stock traders and first mentioned in the 1972 Stock Trader's Almanac. It describes a notable calendrical effect that pushes stock prices up during the last five days of December.
As of this writing, Bitcoin manages to hold in the achieved range, trading at $51,196.