A whale holding 13,180 BTC recently transacted the holdings into another wallet. The Bitcoin Blockchain picked up Unspent Transaction Output (UTXO), the remaining amount of Bitcoins which hasn’t been spent was used as a new Input in a new transaction.
The recently moved 13,180 BTC was over $108 Million USD at the current trading price of Bitcoin which was observed on the Bitcoin blockchain. The recent observed whale transaction triggered predictions for the price of BTC, most of the predictions concluded that the Bitcoins were prepared for selling and the remaining conclusions focused that the Bitcoins were prepared fro a rally.
This cannot be considered as an unusual transaction as many such transactions have appeared on Bitcoin Blockchain previously. Although big whales moving Bitcoins is considered quite rare. Later some lesser volume transactions of 651 to 1000 BTC were observed being moved to exchange platforms, which raised more predictions for possible selling of Bitcoins.
This momentum on Bitcoin Blockchain gives a thought of Bearish prediction in the midst of a Bullish trend. From the recent negative third quarter, the prices of Bitcoins are showcasing a nightmarish level, Bitcoin which is now trading at $8,529.98 USD, recovered 3.76% from the previous day. It also can be considered that bitcoin has gained back from the previous low near $7,800 USD.
Bitcoin’s Blockchain network recorded a transaction with a net worth above $1 Billion in the previous month, which left the users gaping. Having 800,000 transactions per day high activity is once again recorded on Bitcoin Blockchain. In the past days, the Bitcoin network moves a little below $1 billion worth of funds. In the past, the network has accounted for transaction spikes due to technical reasons, including projects that used Bitcoin blocks for additional verification