Bitcoin whales continue to play a key role in pushing the price of Bitcoin beyond $50,000. The 3rd biggest holder on record just made an addition worth over USD 2 million after prices hit critical levels and they are selling more than ever before!
As on-chain data provider Santiment explains, Bitcoin recovered to levels around $50 (roughly 37.78 lakh) by Monday after “whale traders played the dip to perfection.” There were 67k more Bitcoins in addresses holding 100 - 10K at this time last week when they started selling off their stash right before the price drop began!
Bitcoin has seen a 4.9 percent rise in value over the past 24 hours and is valued at $50,856 on Indian exchange CoinSwitch Kuber while it’s priced higher than this by around Rs 40 lakhs elsewhere primarily due to lower trading volumes but still among others including US-based exchanges like Coinbase GDAX who reports having roughly 20% more bitcoins available for purchase or storage as opposed to India based ones such as Unocoin which only offers 2%.
