Data obtained from Btc Block Bot reveals that an unknown entity transferred 2,210 BTC worth $125 million in block 675,713.
Institutional investors are increasing their buying pressure amid recent price corrections prevailing at the world’s most volatile financial market.
Long-term supply decreases as HODLers take profits during bull markets – and increases in re-accumulation phases at cheaper prices.
READ: What is crypto-currency? Everything you need to know in 2021
At the time of writing this report, the world’s most popular crypto traded at $57,686.91 with a daily trading volume of $49 billion and is down 0.67% for the day.
Global investors and crypto-traders seem to be taking some of their profits off the table, thoughts it’s often challenging in anticipating market movements in the ever-changing crypto market.
Bitcoin whales have shown historically that they often determine the BTC trend.
However, it’s critical to note that the number of Bitcoin accumulation addresses (which have received at least two non-dust transfers and which have not spent funds) has been increasing since early 2018, thereby suggesting that it might be an isolated event.
Crypto fans are presently cheering Bitcoin as an inflation hedge in an era of unprecedented amounts of quantitative easing triggered by many central banks globally.
READ: What is Bitcoin halving? Everything you need to know
Bitcoin trading is becoming particularly very risky, which is perfectly outlined by the number of total liquidations in the past few days.
- For the day, 79,664 crypto traders got burnt on the prevailing market volatility.
- The largest single liquidation order happened on Huobi-BTC value of $10.45 million.
Should you still buy: Nairametrics, however, advises against investing a large pool of capital into a volatile financial market like Bitcoin, instead an investor or trader can allocate smaller amounts periodically over time.