This week, Bitcoin whales maintained notable trading activity, raising expectations about their next moves. The accumulation seen in previous weeks has been a key factor in the recent rise in BTC price.
At the time of writing this summary, the price of the largest Cryptocurrency stands at $65,600 per unit. This increase has been driven largely by whales, both traditional and indirect, including those linked to Wall Street. However, in recent days, accumulation activity has shown a slight slowdown.
If you want to know the detailed behavior of the whales during this week, we invite you to continue reading this analysis.
Bitcoin whale trading this week
As we mentioned, this week was intense for Bitcoin whales. After a long period of accumulation, the effects of these actions are reflected in the rise in the price of BTC. Below, we present the most relevant aspects of the week:
- First half of the week.
- Second half of the week.
- Behavior of institutional whales.
- The most recent movements.
First half of the week
During the first days of the week, the whales resumed the accumulation trend, after some profit-taking movements. On Monday, a significant outflow of 17,715 BTC was recorded from Kraken, according to data from WhaleBot Alerts.
Simultaneously, an increase in stablecoin inflows into Coinbase was observed, suggesting purchasing intent on the part of some investors. In addition, five transactions of approximately 1,000 BTC each were carried out from Gemini and Kraken, aimed at accumulation.
Shipments toward accumulation continued on Tuesday and Wednesday, although trade remained relatively balanced. Some large transfers went to exchanges, indicating possible sales.
In a single transaction, 16,700 BTC left Kraken. Source: WhaleBot Alerts
Second half of the week
In the second half of the week, the accumulation pattern continued, although to a lesser extent. This balance between purchases and sales resulted in a slight correction in the price of BTC, which reached $66,500 before stabilizing.
For the last days of the week, accumulation transactions are expected to resume. If so, the price of BTC could resume its upward trend. However, the slowdown in price suggests that, like the previous week, some whales chose to take profits.
Behavior of institutional whales
As for institutional whales, linked to Wall Street, their impact on the price of BTC was positive. Data from Farside Investors shows significant flows into Bitcoin spot ETFs throughout the week.
These figures reflect short-term bullish sentiment on the part of large investors. On Friday alone, inflows of $494 million were recorded in these financial products. In total, the week closed with $1,106 million in net income, with no recorded departures. These levels have not been seen since the first months after the launch of the ETFs.
Bitcoin spot ETFs had a hugely positive week. Source: Farside
The most recent movements
Whale behavior has driven positive performance in BTC price this week. For next week, similar behavior is expected, although price stagnation in the worst case scenario is not ruled out, which could lead to liquidations.
In the last few hours, important movements have been registered. For example, a whale transferred 3,200 BTC to Bitfinex, while 4,000 BTC were sent to accumulation wallets from Binance. Additionally, two mixed transactions of almost 1,000 BTC were observed to and from centralized exchanges.
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