The first half of 2022 saw record sell-offs in the Bitcoin market, but large entities in the space continue to dominate. The Bitcoin Block Bot on Twitter recently detected that an unknown whale moved 10,156 BTC, worth $390 million when converted to USD. This came during a time when Bitcoin was trading around $38K.
In the last couple of hours, Bitcoin Block Bot showed that a whale moved 10,156 BTC worth $390 million in block 721,242 as the flagship cryptocurrency traded at around $38K. For those who aren’t familiar with the term, whale investors are those people who have BTC worth $10 million or more. This type of investor typically moves their crypto out of exchanges when they plan on holding onto it for an extended period.
https://twitter.com/BtcBlockBot/status/1488268125850288130?s=20&t=4XCKASvCRcCaQ0xQV5xpmA
Shifting away from its recent bearish trend, Bitcoin finally increased back to $38K on Tuesday. The flagship crypto asset has increased by 2%, while its competitor ether is up by 4%. In the past, Bitcoin typically showed positive changes when February rolls around, so this could give traders a bit of hope for the future of BTC.
Nevertheless, some investors are still skeptical even though BTC has increased due to regulatory and macroeconomic risks.
