Summary
- The rally of Bitcoin surpassing $100,000 was triggered by large-scale purchases from Binance whales.
- The rise in Bitcoin's price is explained by the strategic purchases made twice by Binance whales.
- It was analyzed that Coinbase whales from the U.S. and Binance whales are alternately buying to support Bitcoin's rally.
Today's rally of Bitcoin (BTC) surpassing $100,000 was driven by the buying power of Binance whales.
On the 5th (local time), Dan, an analyst from the on-chain analysis platform CryptoQuant, explained, "When Bitcoin reached $100,000, the transaction records show that a whale on the Binance exchange made large purchases twice."
According to the data, the Binance whale initially pushed Bitcoin close to $100,000 with their first purchase, and shortly after, surpassed $100,000 with their second purchase.
He stated, "This can be seen as a deliberate move, with Coinbase whales from the U.S. and Binance whales, used by investors worldwide, taking turns supporting Bitcoin's rally."
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
