This week, Bitcoin whales showed a continued positive attitude towards the leading cryptocurrency. The long-awaited correction seems to be postponed and BTC continues to leave exchanges in large quantities. Stablecoins also maintain a constant flow to these platforms.

The latter means that the buying intention remains well above the possible liquidation. However, this could change this week, according to some analysts. The latter would depend on the price of BTC reaching $100,000 per coin. This would be the profit-taking price among a significant number of whales.

It is worth noting that profit-taking would lead to a noticeable drop in the price of BTC. However, this would not be a threat to the overall bullish trend. In simple words, the small correction would give way to a new push in the price of the coin, far beyond $100K. All of this largely depends on the attitude of whales.

Bitcoin whale activity this week

As usual, in this article we present you a summary of the trading activity of Bitcoin whales for the week. To facilitate the analysis, we divide the week into two parts. We also present the activity of Wall Street whales separately. Finally, we present a summary of the most recent movements, which allows us to have an idea about the trend for the coming week.

First half of the week.

Second half of the week.

Wall Street whale activity.

Most recent business movements.

First half of the week

During the first half of the week, the attitude of whales was relatively timid and this was expressed in a more or less constant price. Although there were several attempts at rallying, the coin remained low-profile. In large transactions, a mixed trend was evident between inflows and outflows from centralized exchanges.

According to data from WhaleBot Alerts, shipments to accumulation wallets were dominant in the first part of the week. However, this was not a huge difference compared to shipments for possible liquidation.

Among the most bullish movements was a shipment of $1.5 billion of USDT to Binance. Meanwhile, outflows in transactions of 1,000 BTC or more totaled almost a dozen per day between Monday and Tuesday. Inflows of transactions of similar magnitude to exchanges were slightly lower.

Second half of the week

In the second half of the week, Bitcoin whales also showed a strong predilection for buying. Although some profit-taking was witnessed, it did not represent a significant amount that would threaten a BTC price pullback.

As Wednesday ended and Thursday began, transfers to accumulation wallets increased disproportionately. This was reflected in the tremendous increase in the price of BTC from that date. Between Thursday and Friday, the traffic leaving BTC from exchanges was enormous.

By the latter part of Friday, some strong remittances to exchanges began to appear. The possibility of BTC reaching $100K caused a balance in remittances towards the possible sale. Apart from Binance, other exchanges such as Coinbase received large transactions. The latter received 6,100 BTC in a single transaction yesterday. Meanwhile, USDT outflows from Binance were significant.

Wall Street Whale Activity

Another type of Bitcoin whale also made headlines this week. These are those who buy BTC indirectly through spot ETFs. This particular market had a totally positive week, which contributed greatly to the price of BTC.

According to data from the Farside Investors portal , as shown in the image below, not a single day saw outflows in this market. In total, $3.353 billion dollars flowed into these stock market products in the five trading days this week.

The vast majority of these flows went to BlackRock's ETF, IBIT, which received no less than $2.053 billion. This is equivalent to approximately 60% of all inflows into these stock market products.

Most recent business movements

As you can see, even though Bitcoin whales' behavior this week was considerably positive, there was also caution. Over the past few hours, these big investors seem more cautious about the possibility of BTC reaching $100K.

As already mentioned, some high-calibre experts such as Peter Brandt contemplate that profit-taking could occur if that price is reached. The trading trend over the past few hours points in that direction. Cautious trading caused the BTC price to slow down between $97,000 and $98,000 per coin.

Among the large BTC transactions of the last few hours, the following stand out :

1,078 BTC from an accumulation wallet to OKEx.

1,642 BTC from Coinbase to an unknown wallet.

774 BTC from an accumulation wallet to Binance.

2,500 BTC (4 transactions) to Kraken.

1,165 BTC to Kucoin.