Since the beginning of June, Bitcoin Era whales have been active, especially through the accumulation of BTC. Despite the change in strength and frequency, the predominant trend during the first week was accumulation. However, in this article we analyze if this is still the case at this time.
Summary of BTC whale activity in the second week of June
On a general level, we can see that in the three days that it has been going on this week, the clear trend is accumulation. Monday June 8th was the busiest day, both in terms of the number of transactions and the amounts transferred.
According to Whale Alert, Bitcoin whales accumulated 12,755 BTC through four trades. If we add to this the fact that there was a transfer between unknown wallets for 20,000 BTC we will notice that the whales evidently started the week strong.
It should also be mentioned that so far there has only been one movement from an unknown wallet to an exchange, for 1,500 BTC, also made on Monday. Since then, Bitcoin whales have not introduced any more BTC liquidity into the market.
Bitcoin could reach $75,000 in the coming weeks
In general, Bitcoin whales are accumulating
Later in the week, 87.5% of the eight trades were accumulative, taking liquidity out of the market.
This normally represents a boost to the price of Bitcoin, but depends on the volume of such trades and other external factors that could influence the fundamental analysis of the market.
A total of 18,747 BTCs were mobilized so far this week, and 38,747 BTCs if we count the movement between wallets mentioned above. So far, at the time of writing this article, only one transaction has been recorded with Bitcoin.
According to Whale Alert, crypto whale transactions in general appear to be focused on stablecoins such as USDT. We’ll have to keep monitoring for the rest of the week and see if this trend continues or changes.
On the other hand, something that can also be said is that the exchanges used so far are several, among them Coinbase, Binance and OKEx.