Ethereum
$ 1,241.09 1.51%
Solana
$ 41.40 0.03%
Dogecoin
$ 0.068256 0.80%
ApeCoin
$ 5.06 11.67%
Bitcoin
$ 21,481.00 0.97%
BNB
$ 239.68 0.08%

50k BTC moved between Bitcoin whales, community predicts price increase

k BTC moved between Bitcoin whales community predicts price increase

Bitcoin whales were reported moving large sums of BTC amongst themselves. Whale Alert created a commotion by reporting the moves on Twitter, which instantly garnered a huge number of responses by the community.

As the market recovers from its March crash, people are optimistic about the market’s momentum. The latest move by the whales strengthens the belief that the bullish momentum would continue, and the market will recover swiftly.

Bitcoin whales on the move

Whale Alert reported that more than 49,000 BTC was moved by an unknown wallet to another unknown wallet. The sum, which is worth over 360 million dollars at the current trading price, was purportedly a move amongst Bitcoin whale investors.

Twitter users were excited about the moves and optimistic about the market’s future movements. While some wondered about the origin of the funds, others were cheering for the asset and predicting a price pump. Some even stated that the price would swiftly recover to over 9,000 US dollars.

Why did people expect a pump and not a dump? Well, it is because neither of the aforementioned wallets were identified as crypto exchanges, so it is impossible to say whether the sum was bought or will be sold. However, it is unlikely that the sum will be sold as the market is currently enjoying a bullish rally, so there is no need for a selloff.

Whale Alert later reported that the giant sum was proven to be the ‘change’ of a crypto transaction while the actual amount of the transaction was not revealed. 

Featured image by pixabay.

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Bitcoin price analysis: BTC slowly retests $21,500, ready to return lower?
Ripple price analysis: XRP price consolidates below $0.36, but bulls are optimistic

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users