Trading July 12, 2019 Daily Hodl Staff

Crypto Whales Move $476.7 Million in Bitcoin As Weekend Trading Begins – BTC, ETH, XRP, LTC, BCH, EOS, XLM, TRX Forecasts

Crypto whales are surfacing en masse as the week comes to a close.

In the last 24 hours, some of Bitcoin’s biggest holders have moved 41,063 BTC worth about $476.7 million. Of the 12 largest transactions, only one involves cryptocurrency being moved onto an exchange, which indicates one trader may be looking to sell as much as 500 BTC worth $5.7 million.

As the weekend begins, crypto analyst Josh Rager is calling out sluggish volume for BTC and says he’s looking for Bitcoin to cross $12,500 before getting bullish.

According to Rager, a move below $11,138 would indicate a further drop is imminent.

$BTC – 15Min Chart

Struggling to break above $11,760 with the decreasing volume setting up for more volatility (BBands squeezing on lower time frame)

Any move and close below $11,138 would be bearish on LTF and for me to get absolutely bullish, I want price above $12,500 pic.twitter.com/gTmBXRbGOW

— Josh Rager 📈 (@Josh_Rager) July 12, 2019

Rager says the altcoin market, which has taken a beating amid rising Bitcoin dominance, has most likely not hit a bottom yet.

Altcoins likely haven't found their bottom

If this is a prolonged retrace for an overly extended Bitcoin price then many altcoins will continue to make new lows

This could present tremendous buying opportunities in the coming weeks/months for both alts & BTC for long term gains

— Josh Rager 📈 (@Josh_Rager) July 11, 2019