Crash Risk? Bitcoin whale moves 100 BTC for the first Time since 2010

The price of Bitcoin has fluctuated in the last days and although some have bought investors re-BTC, the price is only slightly above the 50,000-US-Dollar mark. Recently, a veteran Miner, which last been 11 years, Bitcoin has moved now – there is now a Crash risk?

Bitcoin has made its largest loss in two days in March 2020, for the most part up. Powered by the re-BTC Investments of Square and MicroStrategy was able to fight the course on Wednesday for a short time on the brand of 51,000 US dollars.

To the editorial deadline for the current Bitcoin price at the time of 50.524 US Dollar.

Veteran Bitcoin Miner moves 100 BTC

Transaction data from the Bitcoin Blockchain show that a Miner has moved 100 BTC, which are currently a little more than five million US dollars in value, from two different Wallets. Since 2010, it has increased the value of these Coins to the 622.500 times.

In addition, both of these Wallets had, since you have received almost 11 years 50 BTC as a Mining reward, no outgoing transactions. Since this has now changed, the question is, where the BTC have been transferred.

From the data in the Blockchain showsthat more than half of the Coins have been moved to the German Peer-to-Peer exchange bitcoin.de . This suggests that the whale is planning the sale of its Bitcoin.

The movement of old Coins is an unusual event, since it is the year 2021 only 18 transactions of Wallets from this time. Nevertheless, one should bear in mind that 100 BTC in comparison to the total Bitcoin trade volume a comparatively very small amount.

Even if the Miner sold his BTC, this should have little impact on the course.

What is the On-Chain data say?

There are currently two negative signals coming from On-Chain data. As the Bitcoin sell-off began at 58,000 US dollars, deposited large investors are very many Bitcoin on crypto-exchanges.

Data Crypto Quant illustrate and indicate that the sell-off has been triggered with a high probability of large investors, the gains have taken it.

The graph above shows that on the basis of the so-called “All Exchange Netflow”. This is calculated as the difference between the BTC in the Wallets of all crypto exchanges to a certain point in time or paid.

If Netflow is high, it means that investors have deposited large amounts of Bitcoin on crypto-exchanges in. With high probability it can therefore be assumed that you want to sell BTC.

In addition, the Stablecoin have slowed inflows in the crypto-exchanges. Since Bitcoin reached its all-time high of 58.641 US Dollar, and declined to crypto exchanges available Stablecoin significantly.

This is not necessarily a sign that the Bitcoin price falls in the foreseeable future, but is ideal for the continuation of the Bitcoin rally this fact is not. On the basis of the Stable Coin reserves can be seen that in the last days a lot of capital and non-aggressive Bitcoin subsequently purchased.

However, we can already recognize, that the two On-Chain indicators are in bullish, or at least more neutral directions have moved. As a result, it is unlikely that another large BTC sell-off follows in the next few days. Nevertheless, you should keep the two indicators in the eye.