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Crypto Whales Shift $4.8 Billion in Bitcoin as BTC Hits $43,357

Bitcoin

u.today 07 August 2021 09:45, UTC
  
Reading time: ~2 m

Earlier today, the flagship cryptocurrency, Bitcoin, soared to a 30-day peak of $43,900. Prior to that, Bitcoin whales had shifted more than 111,200 BTC between their anonymous wallets, transferring lumps by over 10,000.

Meanwhile, a recent analytics report shows that the Bitcoin network is in a state of profit first time since October 2020.

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Over $4.8 billion in Bitcoin on the move, whales hold 50% of Bitcoin supply

Popular cryptocurrency tracker Whale Alert has spotted nine massive Bitcoin transactions, carrying from 10,200 to 10,400 Bitcoin each.

That makes it approximately 111,292 BTC in total transferred by crypto whales. That is an equivalent of a staggering $4,809,606,201 in fiat at the current Bitcoin price.

At the time of writing, the leading crypto currency by market cap is trading at $43,421. Earlier today, it soared to the $43,900 level, almost overcoming the $44,000 resistance.

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On Friday, August 6, Santiment analytics vendor reported that Bitcoin whales holding from 100 to 10,000 BTC in their wallets now own almost 50 percent of the total Bitcoin supply (49.18 percent, to be exact).

🐳 #Bitcoin addresses that hold 100 to 10,000 $BTC currently own 49.11% of the total #Bitcoin supply, and they're still very near the #AllTimeHigh of 49.18% made just last week. This key group of whales is one of our most solid indicators to watch. https://t.co/3L1MCrdRjC pic.twitter.com/psGr2phnuc

— Santiment (@santimentfeed) August 6, 2021

E-A NUPL goes green first time since October 2020

According to a chart provided by Glassnode data aggregator and shared by the CIO of Moskovski Capital, the Bitcoin entity-adjusted NUPL (Net Unrealized Profit/Loss) index has begun to move in the green zone for the first time since October last year.

This metric indicates if the whole Bitcoin network at the moment is in a state of profit or vice versa. If the index is in the green, that means the network is in a state of a net profit.

#Bitcoin ea-NUPL flashed green on an upward move first time since Oct, 27th 2020.

We've entered the Belief phase. pic.twitter.com/373Wbkp8JH

— Lex Moskovski (@mskvsk) August 7, 2021

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