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Whales are making ‘massive transactions;’ what does it mean for BTC traders
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ambcrypto.comBull or bear market? That’s the question on many investors’ lips as Ukraine tries to resist Russia’s invasion. However, Bitcoin traders need to look at what different actors are doing right now while maintaining a cautious outlook.
Data from Santiment showed that Bitcoin whales were busy churning up the waters with high-value transactions as the king coin hit the bottom of its dip, at around $34,700. What’s more, we need to look at recent history, because transactions over $100,000 and $1 million last hit a peak around 24 January, when prices bottomed before.
Noting that the frenzy of transactions after 24 January was followed by a 15% rally the next week, whales are perhaps expecting a similar jump in price soon.
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