Whales Brace Themselves Ahead of Halving
Bitcoin witnessed an additional 7% slump over the past day and was currently trading at around $66,000. However, high-profile entities appear to be confident in the leading asset’s trajectory.
Ahead of the halving, several whale entities have been identified for making big BTC transfers. For instance, one dormant address woke up from a slumber after nearly 12 years to move 1,000 BTC valued at over $68 million from Bitfinex to an unknown wallet.
Meanwhile, Dr. Martin Hiesboeck, Head of Research at Uphold, observed that institutions and whales had amassed more than 12,000 BTC, mostly on crypto exchange Coinbase and Kraken, and removed them to the private wallets during Monday’s price plunge. These moves are typically associated with rising optimism among investors, especially during heightened volatility.
