13,369 BTC Transacted in a Single Transaction, Report Suggests

The crypto intelligence firm, Santiment, tweeted today that the largest Bitcoin (BTC) whale transaction in 4 weeks took place approximately 8 hours ago. According to the tweet, this whale address went from holding no BTC to suddenly holding an estimated 13,369 BTC. At current prices, this is estimated to be around $313.1 million.

This transfer has had a somewhat negative impact on BTC’s price, which is currently down 0.82% over the last 24 hours according to CoinMarketCap. At press time, BTC’s price stands at $23,330.33. Despite the 24-hour drop in price, BTC’s weekly price performance is still in the green and stands at +1.27%.

Daily chart for BTC/USDT (Source: CoinMarketCap)

The daily chart for the crypto market leader shows that its price has retraced to the 9-day EMA level after the trading volume for the last 2 days was predominantly sell volume.

Momentum is still bullish for BTC’s price, with the 9-day EMA line being positioned above the 20-day EMA line. This bullishness may be exhausted in the coming 24-48 hours, however, if the daily RSI indicator is any indication.

Currently, the daily RSI line is sloped negatively towards the oversold territory. In addition to this, the daily RSI line is positioned below the daily RSI SMA line.

Should BTC’s price drop in the next 24-48 hours, the key level that traders will want to keep an eye on is the 9-day EMA. Should BTC’s price breach this level, then the next target will be immediate support at $22,840. The final defense against a BTC selloff will then be the 20-day EMA line at around $22,350.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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