During the week of June 21-27, 2021, Bitcoin whales, in short, mobilized 54,690 BTC through 46 trades. Here it is worth mentioning that Whale Alert’s reports on Twitter seem to have stopped including movements between unknown wallets and, therefore, this trend has not been registered so far this month. However, other trends were present and whales made themselves felt.
Before continuing, we reiterate that all the data collected in this summary can be found in the reports of Whale Alert on Twitter. This article is just a look at one of the factors influencing the price of BTC, and is not isolated from the rest.
Bitcoin whales trends during this week
The predominant trend of whales during the time analyzed was the accumulation of Bitcoin, or withdrawal of liquidity and supply from the market. As the summary chart shows, 63.43% of the weekly total went from exchanges to unknown wallets, which is equal to 34,692 BTC. For two days it was even the only trend (24 and 27 June).
Next, the transfer between exchanges was the second strongest trend in terms of BTC transferred. A total of 10,479 BTC passed from one exchange to another during the week (19.16% of the weekly total).
As for the introduction of liquidity in the market, we can highlight that the whales carried 9,519 BTC from unknown wallets to exchanges. This is equal to 17.41% of the weekly total.
What has happened to Bitcoin in the week?
At the time of writing Bitcoin is worth $ 34,300, with an increase of 6.28% in the last 24 hours. This represents a considerable advance, but not enough to break out of the bearish range in which we have seen Bitcoin since the beginning of the month, following regulatory concerns in China that emerged in the market. In this scenario is that whales have chosen to withdraw their tokens from the market, and hope for a better context to emerge.
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