Did Whales Push Bitcoin Above $28,000? Here's What Happened: Report – U.Today


Santiment on-chain data vendor has noticed several massive Bitcoin transactions conducted by whales right before the price of the flagship digital currency briefly managed to recover $28,000 – this price level has not been seen for the past six weeks.
In the meantime, Bitcoin has again rolled below $28,000 as whales began moving staggering amounts of BTC to major exchanges to sell.
Santiment noticed that just prior to Bitcoin’s 5.48% jump to the $28,500 zone, whales withdrew a great deal of BTC from exchanges and into self-custodian wallets. There were four transfers in total, and per Santiment’s recent tweet, they ranged between $187 million and $346 million worth of Bitcoin.
These transactions drained the Bitcoin supply held on exchanges from 5.99% to 5.73% since Sept. 1 – “a continued good sign,” the Santiment analytics team noticed. This is the lowest level since December 2017 (which was followed by Bitcoin’s surge to the $20,000 all-time high).
📈 There were several price rebounds during #Bitcoin‘s visit above $28K to open October. And three #altcoins in particular ( $AAVE, $ADA, and $CRV ) had opportunists moving coins during the short profit window. They could have potential decouples coming. https://t.co/E14ek3ypwR pic.twitter.com/1CoVyxBwNI
Still, by now, the world’s leading cryptocurrency has rolled back below $28,000 after losing 3.32% today.

BTC, ETH and XRP Price Analysis for October 2

Major crypto tracker Whale Alert noticed several Bitcoin transfers that moved several massive BTC chunks to leading cryptocurrency exchanges – Kraken, Coinbase and Binance.
Wallets marked by the aforementioned tracker as “unknown” have moved 9,895 BTC (worth $275,564,475 USD) to Kraken, 2,891 BTC (evaluated at $80,527,639 USD) to Coinbase and 799 BTC (worth $22,662,739 USD) to Binance.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 9,895 #BTC (275,564,475 USD) transferred from unknown wallet to #Krakenhttps://t.co/oNN4qKNXsg
This coincided with Bitcoin’s drop back under the $28,000 price line as large BTC investors (known as whales in the crypto community) started locking in their profits.
As of this writing, Bitcoin is changing hands at $27,551 on the Bitstamp exchange.

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.
Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.
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