Bitcoin

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Santiment on-chain data vendor has noticed several massive <a href="https://u.today/bitcoin-btc-staking-concept-proposed-by-babylon-at-cosmoverse-2023">Bitcoin</a> transactions conducted by whales right before the price of the flagship digital currency briefly managed to recover $28,000 – this price level has not been seen for the past six weeks.
In the meantime, Bitcoin has again rolled below $28,000 as whales began moving staggering amounts of BTC to major exchanges to sell.
<h2 lang="en-GB" xml:lang="en-GB" id="here-s-what-happened-before-bitcoin-jumped-above-28-000">Here's what happened before Bitcoin jumped above $28,000</h2>
Santiment noticed that just prior to Bitcoin's 5.48% jump to the $28,500 zone, whales withdrew a great deal of BTC from exchanges and into self-custodian wallets. There were four transfers in total, and per Santiment's recent tweet, they ranged between $187 million and $346 million worth of Bitcoin.
These transactions drained the Bitcoin supply held on exchanges from 5.99% to 5.73% since Sept. 1 – "a continued good sign," the Santiment analytics team noticed. This is the lowest level since December 2017 (which was followed by Bitcoin's surge to the $20,000 all-time high).
<blockquote>
 📈 There were several price rebounds during <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>'s visit above $28K to open October. And three <a href="https://twitter.com/hashtag/altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#altcoins</a> in particular ( <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>, <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a>, and <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CRV</a> ) had opportunists moving coins during the short profit window. They could have potential decouples coming. <a href="https://t.co/E14ek3ypwR">https://t.co/E14ek3ypwR</a> <a href="https://t.co/1CoVyxBwNI">pic.twitter.com/1CoVyxBwNI</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1708955465235783867?ref_src=twsrc%5Etfw">October 2, 2023</a>
</blockquote> 
Still, by now, the world's leading cryptocurrency has rolled back below $28,000 after losing 3.32% today.
<h2 lang="en-GB" xml:lang="en-GB" id="bitcoin-reverses-as-whales-move-btc-to-top-exchanges">Bitcoin reverses as whales move BTC to top exchanges</h2>
Major crypto tracker Whale Alert noticed several Bitcoin transfers that moved several massive <a href="https://u.today/bitcoin-rare-184-billion-btc-bug-recounted-how-satoshi-fixed-this-issue">BTC</a> chunks to leading cryptocurrency exchanges – Kraken, Coinbase and Binance.
Wallets marked by the aforementioned tracker as "unknown" have moved 9,895 BTC (worth $275,564,475 USD) to Kraken, 2,891 BTC (evaluated at $80,527,639 USD) to Coinbase and 799 BTC (worth $22,662,739 USD) to Binance.
<blockquote>
 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 9,895 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (275,564,475 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw">#Kraken</a><a href="https://t.co/oNN4qKNXsg">https://t.co/oNN4qKNXsg</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1708918907858305319?ref_src=twsrc%5Etfw">October 2, 2023</a>
</blockquote> 
This coincided with Bitcoin's drop back under the $28,000 price line as large BTC investors (known as whales in the crypto community) started locking in their profits.
As of this writing, <a href="https://www.tradingview.com/chart/3lWxXcMJ/?symbol=BITSTAMP%3ABTCUSD">Bitcoin is changing hands at $27,551</a> on the Bitstamp exchange.

Did Whales Push Bitcoin Above $28,000? Here's What Happened: Report

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