BTC Whale Transfer: Sees a Modest Retracement Alongside a 19K Whale Transfer, Yet It Holds Onto a Strong 16.87% Gain

Crypto News– BTC whale transfer: PeckShieldAlert, a notable blockchain security team, recently released a report highlighting the transfer of 19,000 BTC by a whale who had held these Bitcoins for 11 months. This substantial move attracted attention, given that on November 18, 2022, the 19,000 BTC were valued at approximately $317.84 million.

However, according to the blockchain security team’s assessment, at the time of the report, the transferred Bitcoins had surged in value to around $649.63 million. The remarkable spike in BTC’s price created a positive atmosphere among both traders and investors. Notably, this surge in BTC also had a cascading effect on the altcoin market, where several digital assets breached their resistance levels, leading to a surge in bullish sentiment.

BTC Whale Transfer: Sees a Modest Retracement Alongside a 19K Whale Transfer, Yet It Holds Onto a Strong 16.87% Gain

Santiment, a market analytics platform, made a noteworthy observation: it pointed out that various top cryptocurrencies experienced their most significant whale activity days since June or July.

The chart indicates that Bitcoin saw a substantial 20% increase in whale activity within seven days, considering transactions exceeding $100,000. Santiment also highlighted that Bitcoin witnessed a staggering 14,833 whale transactions in a single day, marking the highest number of such transactions since the ETF news in June.

As of the latest data on CoinMarketCap, BTC is currently valued at $34,186.66, following an impressive surge over the past week. Furthermore, Bitcoin has managed to sustain a double-digit surge of 16.87% over seven days, though it did experience a minor 1.21% decline within the past 24 hours. This slight dip in the cryptocurrency’s value may be indicative of a necessary price correction after a period of considerable overbought sentiment.