Bitcoin Bursts Above $8,600 As Crypto Whales Move Millions in BTC
Bitcoin is leading a crypto market surge, rallying 5.25% to $8,627, according to COIN360.
Ethereum is up 6.88% at $192.32, XRP is up 1.89% at $0.2818, Bitcoin Cash is up 3.49% at $237.43 and Litecoin is up 3.90% at $59.34.
As the price of Bitcoin pops, BTC whales are beginning to surface.
In the last 24 hours, some of the biggest Bitcoin holders on earth have moved a total of 6,517 BTC worth $53.6 million.
Most of the transactions appear to be traders moving their digital assets off of crypto exchanges and onto personal wallets.
Here’s an overview of the biggest transactions in the last day.
- 599 BTC worth $5.0 million transferred from Huobi to OKEx
- 798 BTC worth $6.8 million transferred from Huobi to OKEx
- 1,000 BTC worth $8.2 million transferred from unknown wallet to Bitstamp
- 2,407 BTC worth $19.6 million transferred from Coinbase to unknown wallet
- 602 BTC worth $4.9 million transferred from Binance to unknown wallet
- 1,111 BTC worth $9.1 million transferred from Binance to unknown wallet
Crypto analyst Josh Rager says Bitcoin bulls have yet to shift the momentum in their favor.
He’s looking for the price of BTC to push above $8,675.
“Currently Bitcoin has had a solid move today.
With a push up to $8,675 to tap that high volume mode (arrow) a break above this area would be bullish. With preferred break and close above $8,750.
Not out the woods yet until price closes above this area.”