- The transaction took place on Sunday, May 29th, at 10:16:51 UTC.
- The BTC price was able to find some support at around $28500.
Despite strong support at that level, the Bitcoin (BTC) price was pounded down from a falling trend line exhibiting a descending triangle pattern at $28500. Three weeks into a narrowing pattern’s apex, the coin price may be ready to break out. While price and indicator activity may indicate a prospective breakout on either side, traders must wait for an actual breakout to make a profit.
Early in May, the Bitcoin (BTC) price fell below key support levels, including $36000, $33000, and $30000. A 44.57 percent drop from the March 28th high of $48086 was seen in the coin price, which fell to a low of $26350.
However, the BTC price was able to find some support at around $28500, which is a little higher than the previous low. In a downward triangle pattern, the coin’s price has also been swaying over this support for the previous three weeks. It’s a bearish situation, with lower highs indicating that purchasers are losing control of the currency. The BTC sellers must break the $31500 neckline to sustain the current trend.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 11,258 #BTC (329,220,439 USD) transferred from unknown wallet to unknown wallethttps://t.co/am0viK88lj
— Whale Alert (@whale_alert) May 29, 2022
Whale Alert examines and interprets data from many blockchains before being stored in a single standard format in its databases. An unknown whale sent 11,258 BTC from an anonymous wallet to an unknown wallet. A blockchain analytics and monitoring business called Whale Alert said that the transaction was valued at $329,220,439 USD.
We’re seeing a resurgence of the crypto whales, with overnight transfers totaling several hundred million dollars in BTC. According to data from Whale Alert, the transaction took place on Sunday, May 29th, at 10:16:51 UTC.