Bitcoin Whale Signals Bull Cycle Is Coming
Recently, in a tweet, a CryptoQuant executive stated that based on data from 2018 and 2019, when whales move BTC out of exchanges in droves, a new Bitcoin bull market could be ushered in four months later , Bitcoin will start to rise sharply.
The CryptoQuant head highlighted the fact that BTC whale outflows across 31 crypto exchanges reached 2020 highs in March, suggesting that the bull market could be active next month.
Many high-net-worth cryptocurrency investors known as whales are moving hundreds of millions of dollars in bitcoin as the cryptocurrency trades above $9,600.
Over the past 24 hours, the crypto whale watcher bot Whale Alert has tracked 10 large transactions totaling 29,986 BTC.
In the latest trend of whales leaving exchanges in large numbers, three transfers sent 13,049 BTC worth $124.8 million from Binance to unknown wallets.
Four transfers moved 10,294 BTC worth $99.2 million from unknown wallets to cryptocurrency exchanges Binance and OKEx, potentially for public sale. The last three deals involved moving crypto between exchanges or moving crypto from a crypto hosting platform to an exchange.
• 5,864 BTC worth $56 million sent from Binance to an unknown wallet
• 5,000 BTC worth $47.7 million sent from Binance to an unknown wallet
• 1,500 BTC worth $14.4 million sent from OKEx to Binance
• 2,593 BTC worth $25 million sent to Binance from an unknown wallet
• 3,107 BTC worth $30 million sent from unknown wallet to OKEx
• 4,000 BTC sent from OKEx to Binance, worth $38.6 million in BTC
• 1,143 BTC worth $11 million sent from Xapo to an unknown wallet
• 2,593 BTC worth $25 million sent from Xapo to OKEx
• Sent 2,185 BTC worth $21 million from Binance to unknown wallet
• 2,001 BTC worth $19.2 million sent to Binance from an unknown wallet
Data from crypto intelligence platform Glassnode suggests that BTC balances on exchanges continue to plummet, lending credence to the theory that whales are moving their BTC off exchanges in droves, which could signal an imminent bull run.
Other analysts also believe that Bitcoin is about to end its three-month consolidation and trigger a sharp rally.
But not all analysts believe BTC is ready to break out. Trader Mayne said he is shorting the cryptocurrency with a price target of $8,400.
In fact, many people, many successful traders, have this characteristic of solidified thinking.
Most people in this circle have this kind of mentality. They also entered the market when it rose sharply in 2017. It can be said that they watched the market fall from a high place. Therefore, many people dare not go long in the past few years, for fear of repeating the same mistakes. , This is the terrible solidification of thinking.
Since its birth in 2009, Bitcoin has been called dead tens of thousands of times by thousands of media. It has experienced more than 70% plunges more than 7 times, and it is still alive and well.
Of course, the cow may really come this time, what do you think——
