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PeckShieldAlert, a blockchain security team, recently reported that a whale who held 19,000 BTC for 11 months had moved these Bitcoins to a new address. The 19,000 BTC was valued approximately at $317.84 million back on November 18, 2022; however, the blockchain security team claimed that the transferred Bitcoins would be worth around $649.63 million at the reported time.

#PeckShieldAlert A $BTC whale who has held 19K $BTC for ~11 months (valued at $317.84M on Nov. 18, 2022) has moved these $BTC to a new address, now worth ~$649.63M

— PeckShieldAlert (@PeckShieldAlert) October 27, 2023

BTC’s recent surge created a positive sentiment among traders and investors. In fact, BTC’s spike also caused the altcoin market to experience massive bullish sentiment over a few days as several digital assets crossed their resistance levels. Santiment, a market analytics platform, observed that several crypto’s top assets had the biggest days of whale activity since June or July.

Looking at the chart, it seems that Bitcoin observed a 20% surge in seven days regarding its whale activity, transactions that are above $100,000. Santiment also notified that Bitcoin witnessed 14,833 whale transactions which happened in one day and were highlighted the most since June’s ETF news.

🐳 Several of #crypto’s top assets just had their biggest days of whale activity since June or July. #Bitcoin’s 14,833 $100K+ transactions in 1 day was the most since June’s #ETF news. Keep an eye on the increased #Ethereum & #Cardano engagement as well.

— Santiment (@santimentfeed) October 25, 2023

Looking at Santiment’s chart, it seems that Bitcoin experienced a 20% surge in whale activity, with transactions exceeding $100,000, over the course of seven days. Santiment also reported that Bitcoin had 14,833 whale transactions in a single day, marking the highest number since the ETF news in June.

BTC, according to CoinMarketCap, is valued at $34,186.66, after observing a magnificent spike over the week. Additionally, Bitcoin is still able to maintain a double-digit surge of 16.87% in seven days; however, it registered a fall of 1.21% in 24 hours. The slight fall that the king of cryptocurrency faces could be a sign of price correction after observing a massive overbought sentiment.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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