Already in the last days of the sixth month of 2020, and having noticed certain changes after the Halving of BTC we can ask ourselves what will be the course of this cryptocurrency the rest of the year. However, in this article we will evaluate the activity of Bitcoin whales in the last 24 hours.
How many tokens have Bitcoin whales mobilized in the last 24 hours?
In the last 24 hours, three Bitcoin Whale operations have been registered according to Whale Alert. Two of them were carried out from unknown wallets to Binance. Thus, the whales have introduced 2,517 BTC to the market, but it has not had a noticeable impact since then.
The remaining operation occurred between exchanges, from Binance to Xapo, for 2,300 BTC. Here we could intuit that Bitcoin whales have not accumulated in the last hours.
This has to do with the fact that Bitcoin is testing $ 9,100 as the market grapples with uncertainty. Therefore, it is understandable that Bitcoin whales continue to retain the tokens accumulated so far.
What happened to the price of BTC in that time?
We continue in a market with an adjusted range, in which it is key to maintain the level above US $ 9,000. To this we can add the concern of George Clayton, managing partner of Cryptanalysis Capital, about the economic data for the rest of 2020.
The latter is relevant considering that until now cryptocurrencies like Bitcoin are not totally immune to traditional market turns. This event has already been exposed in previous articles of CriptoTendencia, and that you can review at any time.
So overall, it can be said that despite having dropped as much as 32% on spot exchanges in March during the COVID-19 induced collapse, June has had a more stable Bitcoin price movement.
The steepest drop in recent days was the one with which the BTC market dawned today, after the price of Bitcoin fell 1.25%.
Thus, it appears that $ 9,300 has been the broadest level of support, while $ 10,000 has been the best, with some scattered gaps. Meanwhile, DeFi have gained popularity.
Although Bitcoin whales have some influence on the development of the facts of the crypto market, they are not the only determining factor in the price fluctuations of BTC.
Therefore, the only thing that we can affirm from the observation of recent Whale Alert reports is that the whales will probably close the month without a radical or sudden change in their actions.