BTC whales have been moving large stacks of Bitcoins lately, triggered by the recent bullish momentum in the BTC market.
According to data obtained from Whales Alert a crypto analytic tracker, three unknown whales moved 13,000 BTC estimated to be roughly worth over $140 million from Binance, a leading crypto exchange, some hours ago.
Why this is happening: Global investors and crypto-traders are now cashing in on some of their profits, as the crypto market is awash with cheap money coming from stimulus packages from global central banks.
As the COVID-19 pandemic resurgence disrupts the global financial market, coupled with the recent weakening of the American dollar, the number of whales, has been increasing at a steady pace after Bitcoin’s recent halving.
While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.
Quick fact: At the BTC market, investors or traders who own large amounts of bitcoins are typically known as Bitcoin whales.
This means that a BTC whale could be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.
Source: Whale Alert