2,000 Bitcoin (BTC) Worth 58,560,764 USD Transferred to Unknown Wallet

  • According to CMC, the Bitcoin price today is $29,335.02 USD.
  • The transaction took place at 20:14:18 UTC on May 20, 2022.

After a short rise on Friday, Bitcoin has struggled to remain above the $30,000 mark. Currently trading at $29,330 with a market capitalization of $557 billion, it has corrected 3%.

If history repeats itself, we might see Bitcoin go all the way down to $15,000 and lower due to this. An in-depth case study by a Rekt Capital analyst details previous bitcoin death cross cycles and the subsequent Bitcoin corrections. In 2020 and 2021, the death cross turned out to be a blessing in disguise for Bitcoin. In other words, the death cross appeared at the bottom in both cases.

Rekt Capital’s analyst thinks that BTC is more likely to follow the 2013-2017-2019 pattern this year. Since January 2022, Bitcoin has corrected more than 36% rather than reversing the trend. Before the death cross, Bitcoin had corrected 43% from its November 2021 high. The BTC price might go to $22,700 if a similar 43% retracement occurs following the death cross.

Whale Alert

Whale Alert collects and maintains data from several blockchains in a single standard manner in its databases. 2,000 BTC have been moved from Xapo to an unidentified wallet by a whale. In addition, the transaction was valued at $58,560,764 by Whale Alert, blockchain analytics and surveillance firm.

It seems that crypto whales are back in work, as BTC transactions totaling hundreds of millions of dollars have taken place overnight. According to data from Whale Alert, the transaction took place at 20:14:18 UTC on May 20, 2022. Furthermore, according to CMC, the Bitcoin price today is $29,335.02 USD, with a 24-hour trading volume of $22,683,479,724 USD.

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