Bitcoin (BTC) analysts are eyeing short-term volatility as whales begin unprecedented behavior.
Fresh data shows that whales have not only been highly active on the market — they’ve been moving record amounts of BTC.
Whale activity beats Bitcoin all-time highs
Despite BTC price action staying in a narrow, uninspiring range of around $40,000, large-volume Bitcoin investors are anything but calm.
In recent weeks, these whales have shifted more coins around the network than ever before — even more than during all-time BTC/USD highs of $60,000 and above.
Transactions involving $10 million and over recently hit more than $10 billion.
Whales have been moving record amount of #Bitcoin last two weeks.
Total transfer volume of $10M+ transactions keeps staying at ATH lately.
It’s even higher than when the price was at $55-60k. pic.twitter.com/FXvcCPPl57
— Lex Moskovski (@mskvsk) September 28, 2021
Further analysis of their actions shows that different classes of whale have exhibited different reactions to recent price events.
“Smaller” whales have been selling, while the largest-volume investors have conversely added to