A BTC Whale Made a $1B Transaction in the Last 48 Hours

coinedition.com 2 h    Reading time: ~2 m

The blockchain analysis firm, Santiment (@santimentfeed), tweeted yesterday that a $1B Bitcoin (BTC) transaction was initiated. According to the tweet, this transaction is the largest BTC on-chain transaction of the year.

🐳 A $1B #Bitcoin transaction has been sent to 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6. This is the largest $BTC on-chain transaction of the year. The address held a high of 143,310 $BTC in October, was emptied out in November, and is now back to 40,141 $BTC. https://t.co/l9K3Qu8J2M pic.twitter.com/1yVJpKqjPK

— Santiment (@santimentfeed) March 16, 2023

The tweet concluded that the address which received the transaction held a high of 143,310 BTC in October last year, was then emptied out in November, and has now returned back to holding 40,141 BTC.

Meanwhile, Altcoin Sherpa (@AltcoinSherpa), a crypto trader, tweeted this morning that BTC is on the verge of establishing a bullish 1D EMA trend. The trader added that the market has not seen a bullish 1D EMA trend since November of 2021.

$BTC: I want to reemphasize that we have not seen a bullish 1D EMA trend since November of 2021.

We just about have one now.

We also haven’t seen a 1D close above 25k since June 2022.

We could see that today.

Send it to 30k if so.#Bitcoin #BTC pic.twitter.com/bWYnqpKKsm

— Altcoin Sherpa (@AltcoinSherpa) March 17, 2023

The trader optimistically added that BTC may post a 1D close above $25K today, which has not happened since June 2022. Should this happen, the trader forecasted that BTC will make a move to $30K.

At press time, the crypto market leader’s price is trading at $26,186.52 after it experienced a 24-hour increase of 6.37%. This has added to the crypto’s dominant weekly price performance – taking its total weekly gain to 31.45% according to CoinMarketCap.

BTC’s total market cap is estimated to be around $504.785 billion at press time. The recent increase in BTC’s market cap has pushed its market dominance to 44.88%, which is a 0.68% increase over the last day.

BTC has also strengthened against the leading altcoin, Ethereum (ETH), by 1.82% over the last 24 hours. Currently, 1 BTC is worth 15.13 ETH. Lastly, BTC is trading nearer to its 24-hour high of $26,234.39, with its daily low sitting at $24,462.06.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


Updated: 03/17/2023 — 11:00

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