15,855 Bitcoins Transferred by Anonymous Wallets – Are Whales Accumulating?

News
Sat, 03/28/2020 - 11:43
Yuri Molchan
An armful of large Bitcoin transactions has been noticed between anonymous wallets and major exchanges, like Binance, OKEx, etc, as the market might be accumulating BTC
Cover image via stock.adobe.com

Over the last twenty-four hours, Whale Alert has detected around a dozen transactions bearing almost 16,000 BTC in total. This amounts to $99,702,423.

These transactions were conducted with the participation of such major exchanges as Binance, Poloniex, Bitfinex, OKEx and Coinbase.

Image via Twitter

When on March 12 the Bitcoin price faced a severe drop, losing around 50 percent of its value and then recovered a little, traders started tweeting that an accumulation period, when BTC would be trading in a range, would be much better for the price than an immediate surge.

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The aforementioned transactions could be signaling that investors are now actively accumulating BTC, although some might be also selling their stashes.

As Bitcoin is trading in the $6,200 area at the moment, having gone down from the $6,700 area earlier, some popular traders on Twitter are being sarcastic about the current BTC price, saying that it may hold here for a very long time.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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