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.