- Crypto Whale transferred $72M BTC to Kraken on Dec 30
- Whale still holds over $2.2 billion in Bitcoin
- Bitcoin regained $95k margin on Jan 1 after a slight dip
A crypto whale has moved a significant amount of Bitcoin to the cryptocurrency exchange Kraken before the end of the year. On December 30, this anonymous investor moved over $72,000,000 worth of BTC to the DEX, raising the suspicion that he or she may be cashing out following the last quarter’s bull run.
The news was reported by blockchain analytics “LookonChain” on Twitter, which revealed a potential trend of investors picking up profits after the most recent surge in the market. On top of the most recent transfer, this specific whale had already sent 3,038 BTC ($286 million) on December 20th.
That is not to say that this anonymous investor is completely selling off his digital assets. According to LookOnChain, he or she still holds over $2.2 billion in Bitcoin.
Bitcoin Fights For The $95k Margin
The world’s leading cryptocurrency began the year on a down note, trading around the $92,000 zone. Since Christmas, Bitcoin has lost around 3.4% in value, going from above $98k to $91,449 at its lowest point on December 30.
Throughout January 1st, however, buyers began refuting bearish movements in the charts, which led to a 1.3% increase in 24 hours, and also regaining the $95,000 margin. At this time of writing, Bitcoin trades at $95,145—its highest price in 6 days.
Following one of the most profitable bullish periods in history, retractions like this are not only normal but expected. Moving forward, investors are now wondering if the bull run is truly over, or if we can expect even more forward momentum in January.
CryptoQuant CEO Ki Young Ju doesn’t believe buyers will lose control anytime soon, claiming that there is still liquidity in the crypto market. In truth, the next couple of weeks hold several key events that could ignite another major bullish run, such as Donald Trump’s inauguration, Gary Gesnler stepping down as SEC Chair, and the year’s first FOMC meeting by the Fed.
