Bitcoin whales, who have long held dormant BTC, recently began initiating movements of their assets. How will BTC do?
has been trading at the $64,000 level for quite some time and has stagnated at that position. However, things could soon change for BTC as whales have been losing interest in BTC.According to Lookonchain’s data, a wallet that remained inactive for 10.3 years recently initiated a transaction, transferring all 687.33 BTC equivalent to $43.94 million.
This move may cause FUD in the crypto markets and cause a price correction. Despite this whale’s behavior, a large part of the whale cohort remained neutral around BTC. If the positive sentiment persists, the price of BTC could claim the $65,000 level and start its journey towards $70,000. Despite the surge in volume, the velocity around BTC in the last few days had fallen, implying that the frequency with which BTC was being traded at had declined.
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