¿Is there a massive sale of BTC by bitcoin whales?

Is there a massive sale of BTC by Bitcoin whales?

In the last 48 hours, there has been a lot to talk about with regards to Bitcoin (BTC), but especially with regards to the whales. On the one hand, we could talk about a massive sale or money movement by the Bitcoin whales. On the other hand, we can point out that this could continue in the coming days. Here are the details we have so far.

Remember that bitcoin whales are the name of the addresses that have more than 10,000 BTC. Therefore, they have the power to influence the movement of the bitcoin price at crucial times. However, their activities are not always obvious to everyone, as they have different strategies to achieve their goals.

Bitcoin is recovering from a 10-month low to $32,000.

How have the bitcoin whales performed?

Over the past 48 hours, bitcoin whales have moved a total of 44,246 BTC on 30 exchanges, according to Whale Alert. On Tuesday, May 10, a total of 32,150 BTC were moved, while on Wednesday, only 12,096 BTC were recorded.

Currently, we can say that the dominant trend is the introduction of liquidity into the market, at least in terms of mobilized BTC. Specifically, 19,151 BTC were transferred from unknown portfolios to exchanges (43.28% of the total).

The second strongest trend was the accumulation of BTC. Thus, 12,613 BTC were moved from exchanges to unknown wallets during this period. This corresponds to 28.51% of the total.

In third place is the transfer between exchanges with 12,482 BTC (28.21% of the total). Finally, it should be noted that no transactions were made between unknown portfolios.

Selling or raising funds outside of crypto-currency wallets is a fact.

As we mentioned in last week’s report, unlike the last few weeks of April when hoarding was prevalent, it appears that the whales are now preparing to reappear and sell their tokens. WhaleMap also agrees, stating that “many whales who bought $BTC at prices of 40k-34k moved funds yesterday.”

BTC outflows from Whale portfolios.

The bubbles indicate the price ranges in which BTC outflows from Whale portfolios took place. However, it should be noted that the last bubble is an exchange in which funds are transferred from one cold portfolio to another, so it can be ignored. That said, further bitcoin outflows could indicate a tightening of the whale trend.

At press time, the leading crypto-currency is worth $30,213, down 3.59 percent over the past 24 hours.

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