The Twitter bot Whale Alert has reported a major bitcoin transaction occurred recently on August 25. According to the Whale Alert report, it was an unknown Bitcoin whale who moved an amount of 4,500 BTC worth $50 million from an unknown wallet to a wallet that belongs to the leading digital currency exchange Binance. The report confirms that the Bitcoin whale has paid a fee of $22 for this huge transaction.
Source: Twitter
According to Whale Alert, the amount of BTC has been sent to the world’s top cryptocurrency exchange by market cap Binance where it might be used for selling or trading purposes on the open market. The wallet address is active since the 6th of Feb when the first Bitcoin (BTC) was seen in this wallet.
This transfer has come at the time when the top-ranked digital currency Bitcoin (BTC)’s price is consolidating below the resistance barrier of $12,000 which the major cryptocurrency is continuously trying to break. Also, the cryptocurrency analysts are also suggesting a bearish trend for the top asset in the short-term case scenario.
Cryptocurrency analysts are bearish on Bitcoin (BTC)
Bitcoin, the world’s first-largest cryptocurrency by market cap, is trading downward at the moment. And cryptocurrency analysts are bearish on the leading digital currency as well. Cryptocurrency trader and analyst, Michaël van de Poppe has said in a tweet that the major cryptocurrency may retrieve back to the $10,800 area before it touches the bottom.
Another famous cryptocurrency analyst in the industry named Flood has also given a bearish forecast for Bitcoin and says that the top cryptocurrency may start flowing in the downward direction if it faces a price drop in the coming days. He said that the king cryptocurrency is currently testing the $11k figure if it breaks below this level, then we are likely to see Bitcoin (BTC) going down below to find support at around $10.5k.
Source: Twitter
Currently, the price value of Bitcoin is trading at $11,398 with a change rate of -1.91% in 24 hours. This means the sentiments are slightly bearish at the moment.
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