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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.
- 8,804 BTC worth $102.3 million transferred from unknown wallet to unknown wallet
- 2,092 BTC worth $23.8 million transferred from Huobi to unknown wallet
- 5,669 BTC worth $64.5 million transferred from Huobi to unknown wallet
- 2,998 BTC worth $34.9 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $34.9 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 3,000 BTC worth $35.1 million transferred from OKEx to unknown wallet
- 500 BTC worth $5.7 million transferred from unknown wallet to OKEx
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.
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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
At time of writing, Bitcoin is up 5.16% at $11,886 according to COIN360.
Ethereum is up 2.49% at $276.09, XRP is up 4.80% at $0.3432 and Litecoin is up 0.77% at $104.42.
After a period of significant volatility, crypto analysts at large are looking for signs of a sustainable Bitcoin recovery.
Bitcoin
NewsBTC – Bitcoin price now testing crucial support
FXStreet – Recovery from recent lows painfully slow
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Ethereum
Blockonomi – Support near the $260 currently preventing additional losses
XRP, Litecoin, Bitcoin Cash, EOS, Stellar, Tron
FX Empire – Potential for more pain if XRP, Litecoin and Bitcoin Cash Can’t Hit Key Levels
NewsBTC – Crypto market remains vulnerable: BCH, XLM, EOS, TRX Analysis
FXStreet – LTC/USD buyers heavily trying to defend $100 mark
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