Just like a Bitcoin whale pushed over $440 million a few hours ago, wealthy buyers boosted their transactional volume. The price of the world’s most famous crypto asset is currently hovering around $54,500.

The wealthiest individual transferred 7,970 BTC worth $440 million in block 681,99, according to data obtained from Btc Blockbot.

After hitting $58, 0000 and plummeting as low as $47,000 in recent weeks, the flagship crypto has seen a considerable amount of selling pressure, indicating that institutional inflow on the world’s most famous crypto asset appears to be faltering.

Data obtained from Glassnode suggests that the amount of Bitcoin addresses containing 10+ coins has only hit a 4-year low of 147,046. This adds credence to the weakening purchasing spree.

On 03 May 2021, the previous 4-year low of 147,094 was posted.

Bitcoin was valued at $54,465.57 on the FTX exchange at the time of publication, with a regular trading rate of about $70 billion. The flagship crypto asset has gained just 0.35 percent this week, but it is already the most important crypto by market capitalization, with a market cap of $1.018 trillion.


According to recent reports, Bitcoins older than six months have not seen a significant rise in spending since the February correction, implying that long-term investors have temporarily halted their purchases.

Similar spending behavior was seen during the December 2020 consolidation, just before the stock broke to a new all-time peak, and during the January bull market reversal.

Note: Whales are merchants or investors who keep huge numbers of bitcoins on the leading cryptocurrency exchange.

Buy cryptos and hodl. Look at dogecoin, it's almost 1usd. Imagine someone who purchased 6000coins in January with with nothing less than 15000 naira. Now, that 6000 coins would be worth over N1m (when he spent about N15k).

The future is cryptos. Be smart.