Bitcoin regained its $43,000 price level today after a jump of nearly 4% in the past 24 hours. While Bitcoin bulls seem keen to keep the world’s largest digital asset above the $40,000 price level, whale activity has surged since yesterday.
According to Whale Alert, one of the leading blockchain tracking and crypto analytics platform, the leading Bitcoin wallet transferred 5,000 BTC from Xapo to Binance on September 29 at 19:56 UTC. The total value of the deal is currently approximately $206 million.
In a separate transfer, someone transferred 500 Bitcoins from an unknown wallet to crypto exchange Coinbase. The recent increase in the supply of BTC exchanges came as a surprise after the leading digital exchanges saw significant outflows over the past week.
In the previous week, the bitcoin exchange supply ratio fell to its lowest level in more than two years. The latest exchange flows indicate that there is a change in the transfer pattern of prominent Bitcoin wallets. In terms of price, BTC is currently trading above $43,500 with a market capitalization of over $820 billion.
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One of the main indicators of the activity of the Bitcoin network and its future price movement is the trading of the unique tokens of BTC. According to crypto analytics platform Santiment, bitcoin trading has reached its highest level since late July 2021.
“Bitcoin trading is a clear sign of whether there can be market price growth in the future. In the past three days, BTC has averaged 189.2 thousand unique tokens circulating on the network, the highest level since late July (when BTC grew by 31% in the next five weeks), Santent explained.
Due to the latest price hike in the world’s largest cryptocurrency, the liquidation of short cryptocurrency trading positions has increased significantly in the past 24 hours. Data from bybt.com shows that nearly $94 million of short positions have been liquidated in the past 24 hours. The figure includes the liquidation of nearly $40 million of Bitcoin short positions.