Bitcoin

Last week turned out to be full of massive fluctuations for Bitcoin, the biggest crypto, as its price went on to see a dip to the $56,000 level. The recent <a href="https://news.todayq.com/a-bullish-signal-just-flashed-for-bitcoin-whats-the-next-move/" rel="noopener noreferrer nofollow">recovery rally</a> has helped BTC to regain the $64,000 price level but still uncertainty in the market persists. Is Bitcoin whale ready to dump? 
Looking at the ongoing relief rally in the market, data shows that a dormant Bitcoin address containing 687 Bitcoin (approx worth $43.89 million) has just been activated after a long period of 10.3 years. This highlights the long-term holding behavior of some BTC investors.&nbsp;
This move suggests that the wallet holder might be looking to cash in profits after witnessing Bitcoin’s winning run. BTC price has jumped by over 51% on the year to date (YTD) basis, while it hit its new all time high (ATH) of $73,750 this year. But it also implies that the dormant wallet holder might be seeking a further dump ahead.
If we take a look back at 10.3 years ago i.e. January 2014, the biggest crypto was trading at around $600 price levels. As of now, Bitcoin is holding the fort above the $64K level, which is huge for the whale if it looks to sell now.
Bitcoin price is up by over 3% in the last 7 days. BTC is trading at an average price of $64,337, at the press time. Its 24 hour trading volume is down by 7% to stand at $18.2 billion. The original cryptos market cap stands at around $1.26 trillion. What’s next? 
Experts hint that BTC may not be out of the woods yet, despite its recent rally above the $64,000 level. According to the analysis of the Ichimoku Cloud indicator is still in red. This indicates a bearish trend for the crypto.
The Bitcoin network recently hit a milestone by processing its one billionth transaction. This marks a huge moment 15 years after its creation. However, it’s worth noting that this transaction count does not include those made on the Lightning Network. The Lightning Network has seen significant usage, with millions of transactions processed since its launch in January 2018.
Despite Bitcoin’s status as the oldest cryptocurrency network, it’s not the first to process one billion transactions. Ethereum, Bitcoin’s biggest rival, has processed well over 2 billion transactions since its launch in July 2015, highlighting its active use and transactional throughput.

Decade-old Bitcoin whale wakes up, Brace for market shake up?

Todayq News

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