- Bitcoin sees 140% volume surge as whales activate
- BTC holds above $110,000
The Bitcoin ecosystem has witnessed renewed momentum as trading activities soared dramatically over the last day.
On Monday, September 29, on-chain tracking platform Whale Alert identified a massive Bitcoin transfer involving over 3,900 BTC, according to its latest X posts.
Further data revealed that the large BTC transfers were executed via unidentified wallet addresses in two separate transactions. Together, the transfers amounted to more than $442 million.
Notably, these transactions have raised eyebrows across the crypto community, coming at a time when investor sentiment suddenly shifted, driving crypto asset prices sharply upward.
Bitcoin sees 140% volume surge as whales activate
Following the move, Bitcoin not only posted strong daily gains, rebounding above the $113,000 mark, but also recorded a massive 140% surge in trading volume over the last 24 hours.
While the large transactions coincided with the market’s positive momentum, it appears that rising whale activity has contributed to the asset’s price recovery, though the mysterious nature of both transfers makes it difficult to confirm whether they were buy attempts or sell-offs.
Historically, large and unidentified BTC transfers like these are often traced to institutional redistribution activities or moves by high-net-worth investors.
With multiple significant BTC transactions spotted among firms such as BlackRock and Strategy today, it appears that whales are actively positioning ahead of what could be a major market event.
BTC holds above $110,000
After days of trading deep in the red and falling below $110,000, confidence seems to be returning as Bitcoin now holds well above that level, trading at $113,856 at the time of writing.
With trading volume rocketing 140% and price gains reaching 4%, analysts predict Bitcoin is heading toward resistance between $113,500 and $114,000, potentially setting the stage for a strong start to the new month.