Recently, well-known crypto analyst Ali has taken to X(Twitter) to share significant Bitcoin (BTC) movements from various exchange wallets. As per Ali’s tweet, more than 11,000 BTC have been withdrawn from known crypto exchange wallets within the past 24 hours, amounting to a total value of approximately $330 million.
Notably, the X (Twitter) account Whale Alert, which specializes in tracking large cryptocurrency transactions, also provided insights into the ongoing movement of BTC across the market. Through a series of tweets, Whale Alert disclosed substantial transfers involving prominent exchanges over the same 24-hour period.
One of the most notable transfers highlighted by Whale Alert was the movement of 10,798 BTC, equivalent to approximately $317,738,036, from the Gemini exchange to an unknown wallet. In addition, two transactions involving 2,567 BTC (75,523,228 USD) and 2,566 BTC (75,477,074 USD) were recorded, with both transfers originating from unknown wallets and ending up in Coinbase exchange wallets.
Bitcoin’s Price Resurgence & Technical Indicator Analysis
Analyzing the market dynamics, these transfers coincide with Bitcoin’s recent resurgence in price. The cryptocurrency reclaimed a position above the $30,000 mark at the beginning of the week, sparking discussions among crypto analysts. In particular, crypto analyst Jelle weighed in on the situation, sharing insights on Twitter regarding the latest price movements and technical indicators.
According to Jelle’s tweet, amidst the ongoing struggle to maintain the $30,000 threshold, Bitcoin’s price chart has displayed a 3-day golden cross. This cross considered a long-term bullish signal in technical analysis, suggests the potential emergence of a new bull market over the span of the next 2 to 3 years. The tweet concluded with an optimistic sentiment, hinting at the potential for positive price trends in the cryptocurrency space.
However, as per the latest data from CoinMarketcap, BTC is trading at $29,343.54 with a 24-hour trading volume of $12 billion with a boost of 15% in the last 24 hours. At the same time, BTC’s value is down 0.01%.
Nevertheless, as the crypto market continues to captivate the attention of traders, investors, and analysts alike, these significant BTC transfers and price movements underscore the dynamic and volatile nature of the digital asset landscape.
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