Crypto whale watchers are pursuing a pair of large Bitcoin transactions, totaling approximately US $ 102.5 million for 20,378 BTC.
Both transactions took place between unknown wallets and do not appear to be traders prepared for sale.
The moves are part of a larger migration of Bitcoin whales as markets move into the red.
In the last 24 hours, whales raised a total of 42,616 BTC worth about $ 215 million at the time of writing. The vast majority of BTC was moved from crypto exchange to unknown wallets, or from one crypto exchange to another.
At the moment, the crypto market is a red sea. Bitcoin has dropped 4.86% to 5.036 USD. Ethereum fell 8.61% to $ 164.77 and the XRP fell 8.13% to hit 0.3285.
Technical analysts say the market slowdown puts forecasts of a short-term BTC price rise at $ 5,800 on hold. According to CoinDesk analyst Daniel Paomer, the decline may have "thrown a wrench into a bullish market environment likely to push prices higher than it had since the end of last year"
CoinDesk – Bitcoin drops back to 5K price support after a failed breakthrough
Fxstreet – The BTC / USD drops to $ 5,400 following the rejection
Blockonomi – Corrective decrease, but control of the bulls
Crypto-Briefing – The ETH / USD has seen a correction, but still has strong support
Fxstreet – The critical trend line of the ETH / USD must again be around $ 100
Fxstreet – XRP / USD back for 0.3000 USD
Crypto Potato – XRP crashes after the mood of Bitcoin
NewsBTC – Cool down, Litecoin can drop to $ 60 before going up to $ 110
Fxstreet – Litecoin bulls seem to have found a bearing at $ 77.00
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