Big crypto entities are definitely busy at the world’s most popular crypto asset, Bitcoin right now, with the prevailing price seen at the world’s flagship crypto, Bitcoin, trading above $52,000
According to Bitaps. a crypto analytic tracker, a large crypto entity moved $5.57 billion (111, 511 BTC ) for a fee of just $18. This is the biggest transfer seen on the blockchain by any entity to date.
At the time of this report, Bitcoin traded at $52,300 with a daily trading volume of $76 billion. Bitcoin is up 2.69% for the day The most popular and valuable crypto asset now has a market value of $927.3 billion.
This is a signal that more high-net-worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.
Bitcoin accumulation has been on a constant upward trend for months.
Bitcoin some hours ago had officially reached a new all-time high of $52,000. This follows a week of exciting news including the world’s most valuable car maker Tesla accepting Bitcoin for future payments, and MicroStrategy planning to raise another $600 million to buy the flagship crypto. Bitcoin held onto these gains, in the past week and has since rallied to a new all-time high of $50,00 after tagging an intra-day low of $43,909 a few days ago There is no doubt, 2021 continues to shape up as a very exciting year for Bitcoin, as in 2021 alone it has gained about 73%
What this means: the increased buying pressures by notable institutional brands are partly responsible for the non-dilutable crypto’s recent highs.
While it is difficult to predict market movements, BTC whales have shown historically that they often determine the BTC trend.