Increase In The Number Of Bitcoin Transactions Made By Whales

There was an increase in the number of Bitcoin transactions made by whales. So, could this be a sign that points to a fall?

Bitcoin (BTC), which was reduced to below $ 35 thousand with the invasion of Ukraine on Thursday, has increased significantly since that day and is trading at levels close to 39 thousand. According to data analytics platform Santiment, Bitcoin (BTC) “whales” traded massive amounts in this price range: “Bitcoin prices dropped to $34,700 on Thursday's news regarding the invasion of Ukraine, and whales made some big trades as well. This was the highest level of BTC transactions greater than $100,000 and $1 million since Jan. 24, when prices rose 15% the following week. " Bloomberg senior commodity strategist Mike McGlone described the price drop as a “turning point” for the digital asset, said, "I think this will ultimately be a very good buying opportunity for long-term investors. It will be considered a turning point in history." Also, according to Celsius Network CEO Alex Mashinsky, that this ongoing conflict between Russia and Ukraine was the contributing factor in Bitcoin’s (BTC) establishment of a critical support level at $30,000.