#USCryptoWeek Summary of the weekly activity of Bitcoin whales.
$BTC 🐋✨🐋✨🐋✨🐋💥
#TradingStrategyMistakes This week, the activity in the broad cryptocurrency market was high-octane, with Bitcoin whales making massive moves. This caused the price of the largest cryptocurrency to reach all-time highs (ATH) for three consecutive days.
The positive element is that the ATH of BTC did not end with a price crash, but rather the coin remained close to the maximum. This last point suggests that the exchange value of Bitcoin will soon establish new highs in the coming hours.
It is expected that large wallets will continue injecting capital in anticipation of the price approaching $120k. In that context, large entities known as whales play a formidable role. Just as these wallets led the current rise, they will likely do so with the test of the resistance at 120k.
If you want to know how Bitcoin whales acted this week and what the prospects are for the next, this work may be of interest to you.
Bitcoin whale trading this week
As usual, the intensity of whale trading coincided with the price movements of the largest cryptocurrency. During the first half of the week, the activity of these investors was visibly subdued. The trading of large wallets suffered a downturn due to the stagnation of BTC in the spot market.
However, starting Wednesday, the outflow of transactions from exchanges experienced a particular increase. Despite this, the transfers of BTC in individual transfers of 1,000 or more coins did not see a significant increase. But transfers of between 400 and 600 BTC were abundant.