Bitcoin

Million

Billion

<p><em><strong>There is a decline in whale transaction volume despite the recent price recovery in Bitcoin after two weeks of lower price ranges.</strong></em></p>  
<p>The cryptocurrency market has witnessed a significant price recovery this week, visible from the price reversal in <strong>BTC</strong> and other altcoins as well. There is an increase in inflows into Bitcoin and other cryptocurrencies.</p> 
<h2 class="wp-block-heading" id="strong-lower-transaction-count-from-whales-100k-strong"><strong>Lower Transaction Count from Whales &gt;100K</strong></h2> 
<p>With the rise in crypto prices, there are expectations around the continuation of the upward trend in the <strong>major altcoins</strong>. The current price increase in the market is attracting trading volumes and indicating investors’ willingness and interests to invest their funds in cryptocurrencies and hold on to their existing investments.</p> 
<p>Analysis from<strong> Santiment </strong>showcased the lowest transaction count of the year so far for BTC for transaction valuations higher than 100K. On May 17, Bitcoin whales executed 5,322 transactions recorded in a day, despite the price recovery in the Bitcoin market.&nbsp;</p> <iframe title="Santiment Chart: Whale Transaction Count (>100k USD) (BTC)” width=”1170″ height=”425″ src=”https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-12-09T00%3A00%3A00.000Z&amp;dt=2024-05-13T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=whale_transaction_count_100k_usd_to_inf&amp;wax=0&amp;wc=%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D” scrolling=”no”></iframe>



<p>The above chart shows the lower number of transactions in the year, which depicts the lower sale or buy from whales. However, it is important to consider that whales have accumulated more than <strong>3400 BTC</strong> and this accumulation suggests an upcoming <strong>BTC price rally</strong> after Bitcoin sustained prices over <strong>$66,000</strong>.</p>



<h3 class=" wp-block-heading">&lt;strong&gt;Bitcoin Whales &amp;gt;1M USD In some Doubt&lt;/strong&gt;&lt;/h3&gt; &lt;p&gt;The &lt;strong&gt;whales transactions&lt;/strong&gt; with $1 Million investments are also showing a lower count of transactions. It can be inferred that they are holding on to their investments and are expecting a positive price trend in the near future.&lt;/p&gt; &lt;iframe title="Santiment Chart: Whale Transaction Count (&gt;1m USD) (BTC)&amp;#8221; width=&amp;#8221;1170&amp;#8243; height=&amp;#8221;425&amp;#8243; src=&amp;#8221;https://embed.santiment.net/chart?ps=bitcoin&amp;#038;pt=BTC&amp;#038;df=2023-12-09T00%3A00%3A00.000Z&amp;#038;dt=2024-05-13T00%3A00%3A00.000Z&amp;#038;emcg=1&amp;#038;emhwm=1&amp;#038;wm=whale_transaction_count_1m_usd_to_inf&amp;#038;wax=0&amp;#038;wc=%23FF5B5B&amp;#8221; scrolling=&amp;#8221;no&amp;#8221;&gt;</iframe> 
<p>The recent accumulation from whales has led to total<a href="https://www.thecoinrepublic.com/2024/04/30/microstrategy-news-q1-financial-update-bitcoin-holdings-more/" target="_blank" rel="noreferrer noopener"> <strong>Bitcoin holdings</strong></a><strong> of 23.09K Bitcoin</strong>, carrying a valuation of over $1.5 Billion and a reported profit of $986,045.930.</p> 
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 <figure class="aligncenter is-resized">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/VcXnkIRDOGIUeKKCu5mXZ0fIuZ4PgrbZFcfnbMdHc3ovO4d91D0yeKI1BVFfei89TWJNkJzJ0PNwTOtfUMGhs8VK-LGdX-Ax93NAXBW4zVzOXT-c7aP_DhoTHekzjfdmcBdjsHFiWF4Vv2MzEaA1zCc" alt="" style="width: 100%;height:auto">
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<p class="has-text-align-center">Source: X.com (@CryptoRumb936)</p> 
<h3 class="wp-block-heading" id="strong-transactions-from-small-investors-strong"><strong>Transactions from Small Investors</strong></h3> 
<p>There was an overall decrease in the transaction <strong>volume of Bitcoin</strong>, as the current changes in market factors related to the US economy and others have led to an increase in Bitcoin prices.</p> <iframe loading="lazy" title="Santiment Chart: Volume (BTC)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bitcoin&amp;pt=BTC&amp;df=2023-12-09T00%3A00%3A00.000Z&amp;dt=2024-05-13T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=volume_usd&amp;wax=0&amp;wc=%230030ff&amp;ws=%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p>The current <strong>CPI inflation data</strong> presents a decline in the<strong> inflation rate</strong>, which could lead to an increase in Bitcoin demand. With the current decrease, citizens might expect an increase in the future, and then cryptocurrencies can be a good investment class because of their<strong> inflation hedging properties</strong>.</p> 
<p>This also suggests an <strong>upcoming Bitcoin rally</strong> and an<strong> inflow of capital</strong> into Bitcoin and other crypto based instruments. The recent correction can renew confidence among investors.</p>

Bitcoin Whale Transactions Pointing to Upcoming Price Rally?

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Thecoinrepublic.com

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