Learn here the details about the activity of Bitcoin whales since December 7. The accumulation has decreased, but will it continue?
Bitcoin whales have managed to keep a pretty active week, as far as mobilizing BTC is concerned. In general, they mobilized 185,490 BTCs from December 7th to 13th. Learn about the trends that prevailed and what you can expect in the short term from these actors of the crypt world.
What will be the price of Crypto Bull for 2021 according to Anthony Pompliano?
December Bitcoin Whale Activity Summary
According to Whale Alert reports, the whales transferred 93,937 BTCs between unknown wallets. In that sense, this translates into 50.64% of the total mobilized this week. This may be transfers of funds from the exchanges‘ wallets.
Meanwhile, a total of 39,954 BTC (24.54%) were reported as accumulated against a total of 43,129 BTC (23.25%) transferred from unknown wallets to exchanges. From this it can be inferred that the whales are at a moment where they prefer to sell their tokens to make a profit.
Bitcoin Whale Activity December 7-13, 2020Bitcoin Whale Activity December 7-13, 2020
Likewise, when evaluating the flow of activity of Bitcoin whales in December, we will note that they reached a peak on December 10, when they mobilized 51,804 BTC. Something particularly interesting about this weekend is that the whales decreased their activity as usual, but the few operations they have performed have been of considerable size.
Flow of Bitcoin Whale Activity this Past WeekFlow of Bitcoin Whale Activity this Past Week
Have the whales had an impact on the price of BTC?
During the week, BTC was close to USD 17,700 according to CoinDesk. This happened between December 9th and 10th. However, it then began to rise towards USD 19,000 and at the time of writing BTC is changing hands for a price of USD 19,254. The latter represents a 4.10% increase in the last 24 hours.
Bitcoin price chart (BTC) from December 7th to 13th.
On December 10 there was more stockpiling because Bitcoin whales took advantage of the slight drop to buy, and then with the increase in BTC they sold part of their earnings and decreased the stockpiling. In this sense, we can say that it’s not unreasonable to expect that they will continue to introduce some liquidity into the market before the end of the year.
The reason is that as more companies are interested in BTC, it has the potential to increase its value. We are now seeing public companies like MicroStrategy using leverage to acquire a larger position in Bitcoin.
Optimistic expectations for BTC remain for 2021. „Next year, as annual budgets are reopened, I expect a huge increase in demand to enter the industry from companies and institutional investors,“ said Michael Gord of Global Digital Asset.