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Crypto whales during the week: BTC protagonist

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February has been an interesting month for the cryptocurrency market. Among the events that we can highlight are that Bitcoin has broken the resistance it had around 10,000 USD, and we have also seen the way in which crypto whales have decided to participate in this context. To make your task easier we leave you this weekly summary.

Start of the week for crypto whales

Between February 02 and 03, crypto whales remained in a Bitcoin accumulation process. Through six transactions, the whales moved 10,431 BTC from exchanges to unknown wallets. Among these platforms used are Coinbase, Binance, OKEx and Bitfinex.

With this measure, crypto whales drove the price of Bitcoin up, due to the decrease in liquidity and supply of this cryptocurrency in the market. If we look at the weekly chart of the price of BTC we will see that a slight peak was reached that day.

Bitcoin price chart. Crypto whales could play an important role in their development
Bitcoin price chart. Crypto whales could play an important role in their development

On the other hand, we saw the USDT movement equivalent to USD 19,946,678 from an unknown wallet to OKEx. In addition, a transaction of 68,490,648 XRP (17,175,334 USD) from an unknown wallet to Bybit drew attention. However, a chain of large transactions with XRP was also notable for the day these days.

XRP chain transactions
XRP chain transactions

We must remember that XRP maintains a somewhat peculiar reputation, especially in terms of Mike Novogratz, an issue that was reported by CriptoTendencia a few days ago. If you like, you can check it here.

February 4: 55,974 BTC reported Whale Alert

From this day we can say that the largest transaction reported by Whale alert It was for 49,922 #BTC (USD 458,100,287), among unknown wallets. However, the highlight is that out of a total of 55,974 BTC transferred, 4050 BTC had as an end destination an exchange.

The most notable consequence of this was the fall in the price of Bitcoin, compared to the previous day, being even slightly below 9500 USD. With this offer on the market, the price decreased, at least in part because of the crypto whales.

February 5: Bitcoin modifies its price influenced by the crypto whale day

During this day the crypto whales mobilized 8043 BTC in nine transfers. Of these nine transfers, just over half were from an exchange to an unknown wallet, thus demonstrating accumulation. 5541 BTC in total were taken to unknown wallets. Again, more accumulation than anything else.

February 6: Crypto whales drive Bitcoin takeoff

This day took off, as we see in the graph. A total of 10,370 BTCs moved in the cryptocurrency market by crypto whales.

The trend this day was clear and a kind of continuation of the previous day: accumulation. Of the total mentioned, 7410 BTC ended up in unknown wallets. The rest was transferred from unknown wallets to exchanges, but it is an appreciable minority.

It should be noted that BTC was not the only cryptocurrency subject to the accumulation of crypto whales, as something similar happened with ETH and USDT.

Regarding Ether, two movements were observed one for 58,938 ETH (12,326,325 USD), and another for 221,573 ETH (46,750,884 USD) which ended up in unknown wallets. In the case of USDT the total was USD15,000,000, which also ended up outside the market.

February 7: Bitcoin getting closer to 10,000 USD and crypto whales driving it

This day BTC was already around 9700 USD, and that is why we saw that crypto whales were not left behind and the trend of accumulation of previous days continued even more strongly.

Throughout ten transactions they managed to take 20,375 BTC to unknown wallets, from exchanges such as Binance, OKEx, Xapo and Bitstamp. Half of those transfers were more than 3000 BTC each, so we are talking about strong whales putting their strategies in motion. On the other hand, we have ETH 37,500 (USD 8,132,487) transferred from Bithumb to an unknown wallet.

February 8: The accumulation continues, but to a lesser extent than before, while Bitcoin already officially exceeds 10,000 USD

Among other things, already for this day Bitcoin spent 10,000 USD. Meanwhile crypto whales continued to accumulate in considerable quantities. For example, over three movements, they carried 1503 BTC from Binance to unknown wallets.

At this time it is expected to remain in the short term around this figure of 10,000 USD, but depending on the trends and fluctuations of the actions of crypto whales could be affected. For now, there seems to be latent optimism.

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Degree in Liberal Studies from the Metropolitan University. Lover of innovation and believer of technology for the future.





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