The price of bitcoin (BTC), which reached $59250 per unit on November 30, touched a new high two days earlier. It has now fallen to less than 5%, just below the $56K mark. The latest onchain statistics show that long-term holders (LTHs), whales, and other cryptocurrency users have been spending bitcoin over the past month. In addition to this huge movement in blockchain parsers’ recent days, there have also been significant movements by Blockchain Parsers.
Btcparser3 Spots Bitcoin Moves from Cold Wallets To Active Exchanges
There were several large bitcoin whale movements on the first and second days of December that resulted from bitcoin long-term holders. On Thursday morning, the creator of the web portal Btcparser.com explained that “significant amounts of bitcoin were taken out from cold wallets and moved to active exchanges.”
Btcparser 3 was able to capture the onchain activity. This tool analyzes every bitcoin block and provides detailed information about each transaction. “The bot uses groups of 100 blocks and identifies all wallets that sent or received a total exceeding 1,000 bitcoins during that time,” explains the parsing tool’s website.
Btcparser 3 spotted some serious onchain action. This saw thousands of bitcoins move during the course the day. On Wednesday, the parser captured the movements of 15,074 BTC, $849 million and 6,970 BTC respectively. There were also thousands of BTC that was spent.
Btcparser 3 captured the transactions in bitcoin that were huge on the next day, December 2. The transaction saw 36,645 BTC being deposited and 104,547 BTC leaving the wallet. That’s more than $2 billion worth of bitcoin in USD value, and the address spent more than $28.2 billion in bitcoin (BTC) during its lifetime. Btcparser 3 captured 15,074 BTC, or $849 Million move at 1:59 AM (EST).
Glassnode Report Shows Long-Term Holders Are Spending Bitcoin Holdings — ‘Key Active Whale Addresses Are Content’
In addition to Btcparser 3 catching two days worth of major whale movements, Glassnode’s most recent insights report, “Week Onchain 48,” establishes that long-term holders (LTHs) are “spending some of their holdings.” Glassnode’s report notes that this action has been prominent during the last 30 days.
“Shifting our focus to [LTHs],” Glassnode’s report details. “We can see that there has been a reasonably continuous rate of spending over the last month. From the peak of 13.5M BTC in holdings, LTHs have spent (assumed distributed) 150K BTC, equivalent to around 5.8% of the volume accumulated since March 2021.”
On forums, crypto-supporters have discussed major whale movements. Bitcoin whale commentary is also available. littered all over social media. The crypto analytics firm Santiment also tweeted about this past month’s whale action on November 23.
“Bitcoin’s key active whale addresses that hold between 100 to 10K BTC are content after accumulating a total of ~40K more BTC on last week’s dip,” Santiment said. The company also shared its weekly report as well, which discusses whale action and “ the growing bearish sentiment (& why it’s a good thing).”
How do you feel about recent Bitcoin price movements, whale movements, and current bearish sentiments? Comment below and let us know how you feel about the subject.
Image credit: Shutterstock. Pixabay. Wiki Commons. Btcparser.com. Glassnode Onchain Report.
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