Weekly Report: The Most Relevant Bitcoin Whale Trading Activity

Source: CritpoTendencia Original Title: Weekly Report: The Most Relevant Activity of Bitcoin Whales Original Link: The week that has ended was marked by significant changes within the broader cryptocurrency market. During this period, the price of BTC consolidated above $95,000 per coin, fueling enormous optimism in the market. This dynamic was clearly influenced by the behavior of large wallets, also known as Bitcoin whales.

In this report, we review the trading activity of these major players over the course of the week. Specifically, we analyze the flows to and from centralized exchanges (CEX) during the most critical days for prices. This includes a review of the BTC reserves on these trading platforms.

As a regular feature of this report, we also review the activity of Wall Street wallets. In particular, we examine the data of spot BTC ETFs during the weekly period. Although these financial products do not fit the traditional concept of whales, their behavior has similar effects on BTC price.

Finally, we analyze the most recent data on Bitcoin whales. The last part of the report aims to address the sentiment that whales might transmit toward the upcoming week.

Review of Bitcoin Whales’ Activity

This week maintained the consistent relationship between whale trading trends and Bitcoin’s price. For example, the best-performing day for the coin’s price, Wednesday the 14th, was driven by increased outflows from CEX.

The dynamics of outflows (bullish pressure) and inflows (bearish pressure) on exchanges were closely related to the BTC chart.

With this in mind, the highlighted day was Wednesday. It was the day with the best BTC price performance. That day also saw the highest number of individual transactions of 1,000 bitcoins or more outflows from CEX. Notable outflows included a transaction of 1,529 BTC from Gemini to an accumulation wallet or unknown address.

It is worth mentioning that numerous BTC movements between unknown wallets were also reported. This could be interpreted as reorganizations by Bitcoin whales.

On the other hand, Bitcoin reserves on CEX resumed the multi-year decreasing trend after a brief weekly interruption. This week, the bitcoins on exchanges closed with a lower amount compared to Monday’s reserves.

Performance of Major Wall Street Wallets

Meanwhile, Wall Street wallets showed massive buying activity of BTC. However, among the spot Bitcoin ETFs, an interesting behavior was observed, with a sharp slowdown in purchases during Thursday and Friday.

Until then, New York wallets had been on a huge buying spree, reflected in large inflows into these products. The week started with inflows of $116.7 million. Over the next two days, these purchases surged with a combined inflow of $1,594.4 million.

But the slowdown on Thursday was particularly strong, with inflows decreasing to $100.2 million. On Friday, to cap the cooling trend, outflows of approximately $394.7 million occurred.

Although the inflow-outflow relationship favors the former, the temporal trend indicates a possible return of pessimism.

Latest Data on the Whales

Among the most recent movements of Bitcoin whales, it is notable that trading volume remains low. During Saturday and the early hours of Sunday, few transactions of 1,000 BTC or more were recorded, which are generally associated with whales.

For now, this confirms the same pattern seen in ETFs: a cooling of sentiment among the heaviest wallets. If this dynamic continues, next week could see a retraction.

It is worth keeping an eye on what might happen in the crypto world in the coming hours. The behavior of these whales over the weekend could be very helpful in understanding the possible dynamics of the upcoming days.