As we speak – With the value of (BTC) just lately hitting a brand new all-time excessive (ATH) of over $109,000, market members are primarily redefining their positions. In an uncommon collection of occasions, cryptocurrency knowledge monitoring agency Whale Alert flagged three whale trades on Robinhood (NASDAQ:). The transaction marked the withdrawal of Bitcoin from American brokerages and exhibits that Bitcoin whales aren’t fearful about shopping for the coin on the highest value.

robinhood bitcoin whale stacking

Within the first noticed Bitcoin transaction, 500 BTC value $54,098,752 was transferred from Robinhood to an unknown deal with, in line with Whale Alerts insights. One other transaction that includes the identical 500 BTC quantity was additionally initiated. Nonetheless, judging by the distinction in hashes, these two transactions are totally different.

The following 500 BTC transaction (valued at $54,305,084) additionally exited the buying and selling platform inside quarter-hour. There isn’t any indication that it is a dormant whale coming again to life, because the pockets nonetheless has information of latest giant transactions. The overall worth of those three transactions was $162,502,588.

Regardless of the prospect of upper Bitcoin costs, the coin stays well-liked amongst rich people. Whereas many could also be hinting that the coin is presently overbought, these whales imagine within the “Omega” rally popularized by Samson Mo.

If these three transactions are acquired, a long-term HODL transfer might start.

Future expectations

A number of catalysts might influence Bitcoin value going ahead. The spot BTC ETF market stays sturdy, with the newest knowledge displaying virtually $1 billion in inflows on January seventeenth. This ETF market, MicroStrategy’s hoardings, and different institutional traders have established a powerful base of demand for Bitcoin.

Regardless of its excessive value, Bitcoin’s technological energy proves that provide will probably be tight sooner or later. Because the final halving, Bitcoin mining has not been capable of meet the demand, so BTC is on monitor for an enormous rally in the long run.

This text was initially printed on U.As we speak