According to the latest data from crypto analytics firm Santiment, Bitcoin BTC/USD investors made more than 4,000 trades a day this week, each exceeding $1 million.
What happened: A new report from Santiment says big jumps in activity might mean Bitcoin is poised to recoup the losses it recorded in April following hitting heights the crypto top hasn’t seen since late April. 2021.
???? #Bitcoins sees a steady and continuous supply of around 4,000 whale trades exceeding $1 million+ Monday through Friday, with slight slowdowns over the weekend. Strong increases are what we are looking for to signal a price rebound from the April retracement. ???? https://t.co/GVhqxEWqf1 pic.twitter.com/uLQxu1C3RK
— Santiment (@santimentfeed) 13 avril 2022
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The company finds that a staggering 25,878 BTC worth just under $1.05 billion left crypto exchanges in the past day, the biggest difference between the entries and exits observed over the past five weeks.
???? 25 878 #Bitcoins have been removed from trading in the last 24 hours, the biggest difference between exits and entries in 5 weeks. Historically, large amounts of $ BTC exiting trades leads to price increases given a few days for the trend to continue. ???? https://t.co/wZ4Q8LZsxn pic.twitter.com/UCWp7G5WuZ
— Santiment (@santimentfeed) 14 avril 2022
At the time of writing, Bitcoin was trading at $40,416.51, down 0.14% in the last 24 hours. BTC has fallen 5.40% in the past seven days.
Also Read: Nexo CEO Predicts Bitcoin to Hit $100,000 Within a Year, Sees Short-Term Headwinds: CNBC