The cryptocurrency storm still has not cleared completely and crypto whales have continued moving their BTC.
The storm in the cryptocurrency market has variations, and that is why crypto whales have continued moving their assets, especially in Bitcoin, in recent days. In order to know what to expect from this situation, it is advisable to read the following information.
Crypto Whales Resume Bitcoin Movements
Although the market has had recovery peaks, it is currently below USD 8,000 and crypto whales have thus been making movements around 10,000 BTC. They are also moving them to exchange platforms, such as a movement of 1000 BTC on Thursday, October 17th, from an unknown wallet to OKEx.
Other movements that are also noted are those movements of more than 600 BTC to be changed in Binance; however, movements of 10,000 BTC are still impressive. In this case, the money that was moved earlier on Thursday went to Binance a few hours later.
Then, divided but equally large movements were observed on the platform. This could indicate that whales are generating a strategy in which they place on the market the coins that they had been preserving during the time of general cryptocurrency price drop, especially that of Bitcoin.
These movements were divided into figures of about 2500 BTC in order to try not to disrupt the market.
Other cryptocurrencies
The same as with BTC, XRP movements are also observed on other platforms such as Liquid. However, the amount of movements is smaller than before, since Bitcoin has recovered considerably. All the movements exceed 30,000,000 XRP.
Likewise, USDT remains one of the preferred cryptocurrencies among crypto whales. However, it is obvious that if it is compared with previous reports, not so many movements are simultaneously observed any longer. The only and most prominent within a period of 24 hours was generated for an amount of USD 20,000,000.
Other movements of Ether were observed but in smaller quantities and figures. It is obvious that Bitcoin is moved again, at a time when whales are basically exchanging Bitcoin. Curiously, it is divided into smaller movements along various platforms and hours.
Besides, the hours at which these movements are made are particularly at night. At the moment, the injection of cryptocurrencies into the market can stimulate purchase and sale transactions, which had been slowed down a few weeks ago due to the feeling of panic about market prices. Consequently, there are those who are buying Bitcoin due to its repeated drops and anticipating complete recovery in the medium term.
Those who are interested in acquiring Bitcoin should take advantage of daily prices, since the trend is not yet defined. At the moment, a drop like that of previous weeks is not expected, and the price of the cryptocurrency today will continue to be lower than in the following weeks.
Those who have the cryptocurrencies that they acquired during this drop are moving them so that they can obtain profits. For that reason, it is expected that high amounts of Bitcoin will continue to be transferred in the days to come.
By Willmen Blanco
