Bitcoin Whales Move Record Numbers of BTC

Full article by William Suberg found here.

Key Points:

• Whales, holders of large amounts of BTC, have transferred more coins around the network than ever before, even more than during all time highs of $60,000 per BTC.

• This comes at a time where BTC price action is rather stagnant, mainly hovering around the $42,000 support level.

• Transactions involving $10 million and over recently hit more than $10 billion.

• Different sizes of whales have taken different actions during the month of September. “Small” whales have predominantly sold during this time period, whereas “larger” whales have continued to accumulate with large buy orders.

• A further look at whale activity indicates that price volatility may be coming soon. The exchange whale ratio tracks the size of the top 10 exchange inflows relative to the rest, and it is reaching levels which have shown correlation to volatile price action in the past.