BTC Whale Executes Jaw-Dropping $1B Transaction in 48 Hours

Yesterday, the blockchain research company Santiment (@santimentfeed) reported that a transaction involving $1 billion worth of Bitcoin (BTC) had been launched. As stated in the tweet, this transaction is reportedly the most significant Bitcoin on-chain transaction of the year.

According to the conclusion reached in the tweet, the address that had received the transaction had held a total of 143,310 BTC at its peak in October of the previous year, but it had dropped to 40,141 BTC after being emptied in November.

BTC poised for a bullish trend, according to Altcoin Sherpa

Meanwhile, a cryptocurrency trader named Altcoin Sherpa (@AltcoinSherpa) tweeted this morning that Bitcoin Cash is almost ready to form a bullish 1D exponential moving average trend. A positive 1D EMA trend has not been seen in the market since November 2021, according to the comment made by the trader.

The dealer hoped today to see Bitcoin (BTC) achieve a 1D close of over $25,000, which has not occurred since June 2022. If this scenario played out, the trader predicted that Bitcoin would rise to $30,000.

As of this writing, the price of the leading cryptocurrency on the market has increased by 6.92% over the last 24 hours and is now trading at $26,585.25. According to CoinMarketCap, this has contributed to the cryptocurrency’s already dominating price performance over the previous week, bringing its total weekly rise to 34.16%.

BTC dominance strengthens as market cap surges past $500B

At the time of this writing, the total market valuation of BTC was projected to be about $515.56 billion. Because of recent growth in its market capitalization, Bitcoin (BTC) has increased its share of the cryptocurrency market to 44.88%, marking a daily rise of 0.68%.

During the last twenty-four hours, the value of BTC has increased by 1.82% compared to Ethereum (ETH), the top alternative cryptocurrency. At the moment, 1 Bitcoin is equivalent to 15.13 Ether. Last but not least, the price of bitcoin is getting closer to its 24-hour high of $27,002.39, although it hit a daily low of $24,624.74 earlier.

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