Bitcoin (BTC) analysts are eyeing short-term volatility as whales begin unprecedented behavior.
Fresh data shows that whales have not only been highly active on the market — they’ve been moving record amounts of BTC.
In recent weeks, these whales have shifted more coins around the network than ever before — even more than during all-time BTC/USD highs of $60,000 and above.
Transactions involving $10 million and over recently hit more than $10 billion.
Further analysis of their actions shows that different classes of whales have exhibited different reactions to recent price events.
“Smaller” whales have been selling, while the largest-volume investors have conversely added to their positions, data from on-chain analytics resource Material Indicators revealedthis week.