TLDR
- Satoshi Era ETH Whale moved 420,000 ETH in multiple transfers.
- Aave transferred 40M USDT and 19.5K ETH between addresses.
- Fidelity acquired 2,000 BTC, while Anchorage Digital moved 499.477 BTC.
- Bitcoin’s price dropped 6.15%, and Ethereum fell by 9.43%.
- Bitcoin’s 24-hour trading volume surged by 50.7% to $114.85 billion.
In a recent market observation, large movements in the cryptocurrency market have been recorded in recent hours, with notable transactions involving both whales and institutions. Notable activities include substantial transfers of ETH and BTC, with participants like Binance, Aave, Fidelity, and Anchorage Digital leading the charge. At the same time, Bitcoin and Ethereum have experienced notable price drops, reflecting broader market volatility.
Whales and Institutions Move Massive Amounts of ETH and BTC
According to a post on X by CryptoNobler, the Satoshi Era ETH Whale moved 420,000 $ETH, with multiple transfers in ETH and USDT recorded. Aave conducted several transactions, moving large sums of USDT and ETH between addresses, with notable transfers of 40M USDT and 19.5K ETH. Binance’s hot wallet also transferred significant amounts of ETH, including 16.94K ETH, valued at over $53.6M.
In the Bitcoin market, Fidelity acquired 2,000 $BTC, while Strategy made large BTC transfers, including 1.34K BTC, 948.93K BTC, and 17,600 BTC. Anchorage Digital conducted multiple transfers of BTC, including 499.477 BTC valued at $50.07M. These transactions highlight substantial on-chain activity involving large amounts of BTC, ETH, and stablecoins, with notable participants including Binance, Aave, Fidelity, and Anchorage Digital.
Bitcoin and Ethereum Current Market Action Revealed
Tracking the ongoing price trend of Bitcoin and Ethereum at the time of press, a comparative chart between the two reveals that Bitcoin is priced at $97,114.55, reflecting a decline of 6.15%. Over the same period, Ethereum’s price dropped to $3,204.89, experiencing a larger 9.43% decrease.
Both assets show a similar downward trend, with Bitcoin initially trading higher, followed by a sharp decline. The volume of Bitcoin traded in the past 24 hours reached $114.85 billion, with a significant 50.7% increase in trading volume compared to the previous period.
At the time of observation, Bitcoin’s market cap stands at $1.93 trillion, and its price has fallen by 6.43%. Ethereum’s market activity mirrors Bitcoin’s, with similar price drops over the day. The market movements indicate a period of volatility for both cryptocurrencies, with large fluctuations within a short timeframe.
The post Whales and Institutions Buy the Dip in BTC and ETH: Are They Preparing for a Reversal? appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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