Major BTC market participants were still engaged despite the token’s price decrease.
Bitcoin has been down 0.93% in the last 24 hours.
It’s been a rough year for Bitcoin (BTC), which has dropped precipitously from its all-time highs set in 2022. However, the token’s low value is enticing long-term investors with big holdings to take advantage of the fall. Blockchain analytics startup Santiment reported a continuous frequency of whale transactions exceeding $1 million on weekdays, even as the price of BTC fell. Major BTC market participants were still engaged despite the token’s price decrease.
Due to a dip in BTC’s price, several other tokens have seen a rise in demand from whales. Recent whale purchasing for popular meme currency Shiba Inu (SHIB) has helped the token launch a strong rebound. Whale Alert uses one common format to store transactions from various blockchains. These databases, which include tens of thousands of known addresses, exchanges, and addresses, are regularly updated by hand with the assistance of AI.
Whales Back in Action
500 BTC has been sent to Gemini by an unidentified whale using an anonymous wallet. In addition, the transaction was valued at $19,957,591 by blockchain analytics and surveillance firm Whale Alert.
The Whale Alert monitoring and analysis program initially discovered the large crypto transfer networks. According to Whale Alert, the transaction occurred at 23:23:57 UTC on April 12, 2022. The ETH, on the other hand, has lost 0.6 percent in the previous 24 hours. According to CoinMarketCap, the Bitcoin price today is $39,825.81 USD with a 24-hour trading volume of $56,495,078,799 USD. Bitcoin has been down 0.93% in the last 24 hours.