Bitcoin whale weekly activity in November

17. November 2020 - Bitcoin

Discover the activity of Bitcoin whales during the second week of November. What is the trend at the moment?

According to the monitoring done to the activity of Bitcoin whales during this week of November, they have mobilized 122,022 BTC through 58 operations. Here are all the details and implications on the value of BTC.

The most predominant trend was accumulation, considering that 38,799 BTC were transferred from exchanges to unknown wallets. However, the largest amount of BTC was moved between unknown wallets, exactly 48.52% of the weekly total.

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Summary of Bitcoin Whale Activity

According to Whale Alert reports, the busiest day for Bitcoin whales was Tuesday, November 10, 2020. On this day 58,991 BTC were mobilized, of which 12,986 BTC were accumulated. Likewise, 8,099 BTC were entered into different exchanges.

It should also be noted that the sales trend has decreased considerably with respect to the first days when Bitcoin began to exceed US$ 13,000.
Summary table of Bitcoin whale activity during the second week of November
Analyzing the BTC price

At the time of writing, Bitcoin has a value of US$ 15,843.62, according to CoinDesk, which represents a drop of 1.91% from yesterday. It should be noted that Bitcoin’s price quickly dropped below US$ 16,000 on Saturday morning, putting the rapid rebound seen in recent weeks on hold.

Analysts suggest that the race to the BTC record of around US$ 20,000 would accelerate again, probably in December. The Bitcoin options market is also extremely optimistic in the long term, as data showed on Thursday that net demand for call options (upside bets) exceeded net demand for put options (downside bets) at the highest level on record.
This week’s Bitcoin Whale Activity Flow – This week’s Bitcoin Whale Activity Flow

Finally, the flow of Bitcoin whale activity shows that the day with the least activity was Nov. 11 and that the week is closing with the least flow of BTC transfers.