With everything that is happening with the price of BTC, the Bitcoin whales have been active but did they accumulate or did they decide to liquidate?
This last week of October has been quite a journey for Bitcoin, as it has touched on the $14,000 level. However, this has not yet been consolidated. This is not to say that Bitcoin whales have not seized the opportunity to implement their profit strategies. Here’s a summary of what this week has been like for these cryptomaniac players – did the Bitcoin whales decide to liquidate their BTCs? Find out.
As usual, we will use the reports published by Whale Alert as a reference. We will also comment a little on the status of the scams and scams reported during this time.
Weekly summary of Bitcoin whale activity with BTC
Firstly, as you can see from the summary table, it should be noted that the whales mobilised 185,132 BTCs in these five days, through 61 operations. However, what is remarkable is that 57.40% of that amount was moved on Monday 26 October.
Even more remarkable is that this is thanks to two operations in which 45,671 BTC and 43,185 BTC were mobilized respectively, from Xapo to unknown wallets. Given the volume, it is very likely that this is not an individual player.
In terms of trends, during three of the five days the amount of accumulation was greater than that introduced in exchanges for sale. The exceptions were during 28 and 30 October.
These were the days when BTC was closest to US$14,000. This was the time when some whales took advantage of the profits from the BTCs they had accumulated all these previous weeks.
The transfer from unknown wallets to exchanges represented 18.56% of the total mobilised during the week. This is a considerable increase in this option from a few weeks ago.
Exploring the flow of whale activity
If we evaluate the flow of activity, we will notice that after the 26th it dropped considerably and remained at a medium level for the rest of the week. The lowest day of trading for Bitcoin whales this week was 29th October when BTC approached US$13,200. Perhaps the whale liquidation on the 28th helped this US$400 drop to occur.
What happened to the hackers and scammers this week?
Hackers and scammers were also active this week. Specifically, Whale Alert reported suspicious activity during October 26, 27 and 29.
On the 26th, two operations were reported from the hack Kucoin 2020 to unknown wallets, for a total of 201 BTC. This is the equivalent of approximately US$ 2,743,851 at the time of writing.
More worrying, however, is what happened the next day. On 27/10, 807 BTCs with the same source as the previous day’s robberies ended up in an unknown wallet. A payment of 1,135 BTCs was then made to a reported investment scam. Finally, on the 29th another payment was made to an investment scam for 0.89 BTC.