Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»Markets»Large-scale Bitcoin whales transactions signal a bottom, on-chain data shows
    Markets

    Large-scale Bitcoin whales transactions signal a bottom, on-chain data shows

    By Jordan Major
    February 27, 2022By Finbold3 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    Following Russia’s invasion of Ukraine on Thursday, Bitcoin (BTC) fell below the $35,000 mark. Since then, however, the cryptocurrency has risen significantly, and it is presently trading around the $39,000 mark.

    Notably, during this time, Bitcoin ‘whales’ made an enormous amount of transactions in this range as prices bottomed out, according to data from behavior analysis platform Santiment. 

    Donate to RareHippo Now!

    As a result, the number of transactions on the platform above $100,000 and $1 million has peaked at their highest level in a month; interestingly, Bitcoin whale transactions last reached their peak levels on January 24, just as prices were about to bottom out before rising once again.

    “As Bitcoin prices bottomed out at $34.7k with Thursday’s war news, whales have made some MASSIVE transactions. This has been the largest amount of both $100k+ and $1m+ $BTC transactions since Jan. 24th, when prices jumped +15% the week following.”

    Following russia’s invasion of ukraine on thursday, bitcoin (btc) fell below the $35,000 mark. Since then, however, the cryptocurrency has risen significantly, and it is presently trading around the $39,000 mark.
    Bitcoin Whale Transactions. Source: Santiment

    Why Bitcoin whale transactions are noteworthy 

    Given that Bitcoin has begun to recover following the announcement of sanctions against Russia by US President Joe Biden, it suggests that the digital asset may have bottomed out with prominent players stepping in just below the $35,000 range as a buying opportunity.

    Bloomberg senior commodity strategist Mike McGlone considered the dip a ‘defining moment ‘for the digital asset. 

    “I think this is ultimately going to be a very good buying opportunity for Bitcoin for longer-term traders. It’s going to be looked back upon in history as a defining moment,” he stated.

    Furthermore, Alex Mashinsky, the CEO of Celsius Network, has also said the ongoing conflict between Russia and Ukraine has acted as a catalyst helping Bitcoin establish a critical support level at $30,000. 

    On-chain analysis absorption at $35,000

    Whatsmore, Finbold reported earlier this month that an analysis of the $35,000 zone shows that it is substantially greater than previous demand absorption zones. On-chain analytics platform Glassnode, in particular, stated that the $35,000 threshold is one that should be closely monitored stating: 

    “Our zone down here in this $35,000 zone is much larger than we have seen demand absorption here so this is something to pay attention to. We have seen demand step in <…> People are willing to step in at that $30,000 to $40,000 range. It’s been defended at this stage once again.”

    It’s worth mentioning that absorption did step in at this level once again, which is bullish for Bitcoin; the crypto market starts regaining strength in the face of geopolitical changes.

    Currently, Bitcoin is trading at $38,850.95, up 1.52% in the last 24 hours and down 2.93% over the previous week.

    Following russia’s invasion of ukraine on thursday, bitcoin (btc) fell below the $35,000 mark. Since then, however, the cryptocurrency has risen significantly, and it is presently trading around the $39,000 mark.

    The flagship digital asset is now worth $736.9 billion, with a total market dominance of 41.7%, according to CoinMarketCap statistics.

    Read full story on Finbold

    Bitcoin
    Previous ArticleRipple files opposition to DPP ruling, says SEC is simply seeking a “do-over”
    Next Article Bitcoin Steady Amid Ukraine Conflict

    Related Posts

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 20221 Min Read

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 20223 Mins Read

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Investments

    Accounting Firms Scoop Up Virtual Land in the Metaverse

    January 8, 20224 Mins Read

    Accounting firms are following the example set by other companies to launch operations in the…

    Third co-founder of crypto exchange BitMEX pleads guilty to U.S. charges

    March 10, 2022

    NFTs: The Promise And Structural Hurdles To Widespread Adoption

    January 4, 2022

    Bitcoin Reclaims Top Crypto Mentioned on Twitter

    February 21, 2022

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2023 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.