Famous crypto- According to Maartunn, analyst and CryptoQuant author, an unknown whale transferred about 15,480 BTC. It is noteworthy that the Bitcoin whale has been dormant for a long time.
Again: old coins on the move 😰
NEWS CONTINUES BELOW15,480 #BTC with age of 3y ~5y has moved onchain 🚩https://t.co/g8yMIVcoQl pic.twitter.com/hrJ2b7n8yu
— Maartunn (@JA_Maartun) January 5, 2023
NEWS CONTINUES BELOW
The analyst also has 4000 inactive for about two or three years. bitcoinHe also reported that he was moving.
A dormant Bitcoin wallet awakened 😴
4,000 #BTC from 2y ~ 3y old has moved onchain. pic.twitter.com/uM6A9vzfUB
— Maartunn (@JA_Maartun) January 5, 2023
While it is unclear what these whales are aiming for and whether these coins reach the exchanges, the old bitcoinThe move of ‘s is often interpreted as a bearish indicator.
However, BTC movements occurred simultaneously with altcoin dominance exceeding 50%. This followed another market crash warning, according to the analyst. Ethereum Merge, the end of the 2021 bull run, and the 2018 ICO bubble followed the same pattern.
Maartunn points out the potential for additional downside, even if the price drop isn’t as damaging as it used to be. The takeover of altcoins indicates instability in the markets. However, this development is hardly surprising given the current macroeconomic situation.
Bitcoin Funding Rates Rising!
Maartunn also expressed his concerns about the possibility of further capitulations due to the increase in Bitcoin funding rates. She admits that the increase in funding rates is not a sign of a decline. However, she states that if the price moves in the other direction, these traders will have to exit their positions.
BTC Funding Rates are getting hot 🥵
Traders are betting on higher prices and are willing to pay a serious amount of interest. That doesn’t have to be bearish perse, but when the price starts to move against them. they might be forced out of the positionhttps://t.co/OBvcISPvUm pic.twitter.com/uXdxEJ8U7x
— Maartunn (@JA_Maartun) January 5, 2023
Moreover, towards the end of 2022, Bitcoin volatility hit an all-time low, leading to very consolidated price movements.
Bitcoin’s volatility is at an all-time low pic.twitter.com/sGOIC7cM6e
— Will Clemente (@WClementeIII) December 25, 2022
However, Bitcoin (BTC) remained stable amid the uncertainty looming in the crypto market. DCG (Digital Currency Group) is facing bankruptcy fears, Silvergate recently announced 40% layoffs and problems at Genesis continue into 2023.
As we know as Koinfinans.com, at the time of writing this news, Bitcoin (BTC) was trading at $ 16,795.93 with a decrease of 0.1% in the last 24 hours. In addition, the original crypto dropped 75.7% from its all-time high of $69,044.77 reached in November 2021.