A large number of bitcoin returns from 74,000 low -acting dollars in whales – TradingView news

Bitcoin wore the latest decrease because its data on the series shows that the number of whale transactions has seen an increase on the network.

The number of bitcoin whale transactions has just increased

Analyst Ali Martinez also indicated in a new post on X, whales increased their activity during the recent increase in prices. The importance indicator here is the “Pisces of Pisces” from the Santimer series, which measures the total number of transfers that occur on Bitcoin Blockchain, which carries a value of more than one million dollars.

Only whale entities are able to move large sums with individual transactions, and therefore it is assumed that the number of whale transactions is compatible with the activity of these fragile investors.

When the value of the scale rises, this means that the whales make more moves on the network. This trend can be a sign that attention around the original rises between this main group.

On the other hand, the indicator, which is witnessing a decline, indicates that older merchants may turn attention away from the encrypted currency because they reduce transactions.

Now, here is the graph that the analyst who shows the trend in the number of whale transactions for Bitcoin during the past few weeks:

As visible in the graph above, the number of bitcoin whale transactions decreased to a low level during the weekend, but after the BTC price collapsed to start this new week, its value was stimulated. At the height of this height on Monday, whale transfers reached the mark of 1715, which is a great value.

From the graph, it is clear that the increase in whale activity has so far led to a recovery for the price of encrypted currency. Thus, it is possible that these large entities have taken their moves to benefit from the decline in the price and helped fuel the assembly.

However, the indicator has been cooled slightly today, which is a possible sign that the whales may already be done by accumulating them. Therefore, it remains only to see whether the recovery will continue.

Something that can prove that a declining omen is the fact that ancient bitcoin has just participated in a deal. Since the chart shared by the Cryptoquant Maartunn community in the X show, 365 BTC was transferred 10 years or more on the network.

The same amount is not very large in the large scheme of things, but in general, the old entities that break their silence do not tend to be a positive sign on Bitcoin, because they indicate that market conditions have been forced even diamond hands to sell.

BTC price

Bitcoin saw the recovery about $ 81,000 yesterday, but the currency has since witnessed a slight restoration of $ 79,700.