Bitcoin Whale Alert: 13095 BTC worth $52.38 million transferred to Bitfinex

In the last 24 hours, the bitcoin price is up by around 3.5% currently trading above $4000 (At the time of writing). The situation is however still bearish for bitcoin and other cryptocurrencies which experienced a massive downfall from over $6000 to the yearly low of around $3200 last month. As per the market analysts, yesterday’s bullish move which pushed the price of bitcoin from around $3850 to above $4000 is probably a dead cat bounce as the trading volumes were very low in comparison to the volumes which pushed the price of bitcoin downwards. Also, the total market capitalization of cryptocurrencies still stands at around $133 billion which is approximately the same as of yesterday morning, so there has not been any significant investment injected into the markets.

As the price of bitcoin is being predicted to go lower this year end which some of the prominent analysts are predicting to reach around $2500 before the year-end also stating that the current bear market will last for at least some months from now, investors are trying to get decrease the amount of losses they have been facing due to the bearish trend. In the last 24 hours, 13095 Bitcoin worth around $52.38 million was transferred to Bitfinex exchange probably to sell at the best rate possible before the bears start to act again.

Here are the details of the transactions:

Transaction 1: 2049 BTC

https://www.blockchain.com/btc/tx/e349877b927d8910ce0dd29899548eb7ed7cd17c4b27596be85c05e51b3d4ab7

Transaction 2: 1947 BTC

https://www.blockchain.com/btc/tx/f867de6e8475a18ef6bdaa6cdbd7321d1e0e74d4e1734b8b2d05e6225560e060

Transaction 3: 1630 BTC

https://www.blockchain.com/btc/tx/d5df6e2dfd8bc2e635d47a42340a89d70da1df1d5ecc18249e9f599998d6c77d

Transaction 4: 1669 BTC

https://www.blockchain.com/btc/tx/51acbfad47b1fef7841098a9e4fe26f57384ab8b1e75607e1c59adfbe17d7f5f

Transaction 5: 1669 BTC

https://www.blockchain.com/btc/tx/9076248d0717e964cb4d5dc7fa4d6c9c55be665391cbbdcad7952b5bf8b8287c

Transaction 6: 1327 BTC

https://www.blockchain.com/btc/tx/861f00a484310ebcd7bf8563ed0b3eadc2992e2ff9f2ee319e90e1bc220f1c40

Transaction 7: 1457 BTC

https://www.blockchain.com/btc/tx/713a8dc1d7b0b4e1497c1cb75cd568d57ccdc6bba6d963b52e6d0f20d599cd68

Transaction 8: 1347 BTC

https://www.blockchain.com/btc/tx/ff967d74fe4b6998ff4143e61786b11cdc015de7499ca924dd17afccb7d78c51

Disclaimer: The following article is not financial advice. The readers are advised to do thorough research and analysis before making any investment decisions in the cryptocurrency market which is highly volatile.

Joyce Lang

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