- Bitcoin is up 1.26% in the last 24 hours.
- Bitcoin bulls face severe barriers between $37,500 and $38,500.
As most Asian markets prepared for the weeklong Lunar New Year vacation, Bitcoin and other cryptocurrencies saw minimal movement over the weekend due to low trading activity. Despite the crypto market’s steep falls, the whales are accumulating their coins. There was a recent massive Bitcoin transfer that was recorded by Whale Alert. For the last several days, Bitcoin has been trading at or around its current levels, which has led to a noticeable change in market attitude. The corporate Bitcoin whale, Microstrategy, is holding its second Bitcoin for Corporation conference.
Read More: Bitcoin Price Prediction
Whale Alert
According to the blockchain data tracker, a transfer of 715 BTC worth about $26,582,975 USD was completed today. Unknown wallet received the funds after being sent from Coinbase. Using data from Whale Alert, we know that the transaction occurred on January 31st, 2022 at 14:06:39 (UTC).
🚨 🚨 715 #BTC (26,582,975 USD) transferred from #Coinbase to unknown wallethttps://t.co/aJz7GTHR5B
— Whale Alert (@whale_alert) January 31, 2022
Bitcoin bulls face severe barriers between $37,500 and $38,500. Some 1.06 million addresses acquired 822.210 BTC, which might be a profit-seeking opportunity. BTC’s price might rise above $42,000 if it manages to break through these resistance levels. After the US Federal Reserve FOMC meeting, there seems to be a rise in crypto market optimism as the price of BTC continues to rise.
According to CoinMarketCap, the Bitcoin price today is $38,440.04 USD with a 24-hour trading volume of $20,280,277,665 USD. Bitcoin is up 1.26% in the last 24 hours, with a market cap of $728,251,324,553 USD.
