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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.
đł 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
â 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.
â Altcoin Sherpa (@AltcoinSherpa) March 17, 2023
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
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 leaderâs price is trading at $26,186.52 after it experienced a 24-hour increase of 6.37%. This has added to the cryptoâs dominant weekly price performance â taking its total weekly gain to 31.45% according to CoinMarketCap.
BTCâs total market cap is estimated to be around $504.785 billion at press time. The recent increase in BTCâs 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.
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