Blockchain Parser captures large amounts of “Cold BTC” transferred to active exchanges

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Two days ago, on November 30, the price of bitcoin (BTC) peaked that day to hit $ 59,250 per unit, but has since fallen almost 5% in value to be right. above the $ 56,000 region. Statistics on the chain indicate that whales and long-term holders (LTH) have spent over the past month and that blockchain analyzers have witnessed huge movements in recent days.

Btcparser 3 Spots Drows of Bitcoin from Cold Wallets move to active exchanges

During the first two days of December, there were massive movements of bitcoin whales (BTC) from long-term bitcoin holders. On Thursday morning, the creator of the Btcparser.com web portal explained that “significant amounts of bitcoin have been withdrawn from cold wallets and moved to active exchanges.”

The onchain action was captured by the Btcparser 3 blockchain analysis tool, a tool that analyzes each new bitcoin block by obtaining detailed information about all the transactions it contains. “The bot uses groups of 100 blocks and identifies all wallets that have sent or received a total of more than 1,000 bitcoins during that time period,” the analysis tool’s website explains.

Btcparser 3 data for December 1, 2021.

On December 1, Btcparser 3 caught major action on the channel, which saw the movement of thousands of bitcoins during the day. For example, on Wednesday the analyzer detected the movement of 15,074 BTC or $ 849 million, 6,970 BTC moved and thousands more BTC spent as well.

Btcparser 3 data for December 2, 2021.

Then the next day, December 2, monster-sized bitcoin transactions were captured by Btcparser 3. This transaction on Thursday saw a huge deposit of 36,645 BTC and 10,547 BTC left the wallet. That’s over $ 2 billion worth of bitcoin in USD value, and the address has spent over $ 28.2 billion on bitcoin (BTC) over its lifetime. At 1:59 a.m. EST on Thursday, Btcparser 3 captured 15,074 BTC or $ 849 million.

Glassnode Report Shows Long-Term Holders Spend Bitcoin Holdings – “Whales’ Main Active Addresses Are Content”

In addition to the Btcparser 3 capturing two days of major whale movements, Glassnode’s most recent analysis report, “Week Onchain 48”, establishes that long-term holders (LTH) “spend part of their holdings.” Glassnode’s report notes that this action has been significant over the past 30 days.

Long-term holder supply table from Glassnode’s analysis report, “Week Onchain 48”.

“Shift our attention to [LTHs]», Details Glassnode’s report. “We can see that there has been a reasonably continuous rate of spending over the past month. Since peaking at 13.5 million BTC in holdings, LTHs have spent (supposedly distributed) 150,000 BTC, or about 5.8% of the volume accumulated since March 2021. “

Crypto advocates have discussed major whale movements on forums, and bitcoin whale comments are strewn across social media. Crypto analysis firm Santiment also tweeted about last month’s whale action on November 23.

“The top addresses of active Bitcoin whales that hold between 100 and 10,000 BTC are satisfied after accumulating a total of around 40,000 additional BTC during last week’s drop,” Santiment said. The company also shared its weekly report, which discusses whale action and “growing bearish sentiment (and why that’s a good thing)”.

Tags in this story Active exchanges, Bitcoin, Bitcoin (BTC), Bitcoin transactions, Bitcoin Whales, Blockchain Parsing, blockchain analytics engine, BTC holdings, BTCparser, Btcparser 3, Btcparser.com, cold wallets, glassnode, long term holders , LTH in Loss, LTH in Profit, LTH, Chain Analysis, Profits, Santiment, Expenses, Tools, Whale Transactions, Whales

What do you think of the recent trend in bitcoin prices, whale movements and the current bearish sentiment? Let us know what you think of this topic in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Btcparser.com, Glassnode onchain report,

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