Bitcoin struggled to establish itself above $52000 after surpassing the crucial resistance earlier yesterday, as bulls became weary following an 11 percent surge in the previous seven days.
The largest cryptocurrency fell below $50,000 once more as bears took control earlier today, and is now trading at $49,253, down 3.26 percent in the last 24 hours.
Whale Alert, a major crypto tracking tool, has released a series of tweets revealing that anonymous crypto wallets have transferred a staggering $4.4 billion in Bitcoin in the last 24 hours.
Whale Alert has discovered eight huge Bitcoin transactions in the last 18 hours, all of which were sent between anonymous digital wallets.
Transfers of 100,820 unit Bitcoins were conducted between the “unknown” wallets.
Since hitting a new all-time high near $69K in October, the top cryptocurrency has been in a negative phase, and despite market gurus forecasting an eventful fourth quarter, Bitcoin, like most altcoins, has been consolidating ever since.
BTC was projected to reach a six-figure price by the end of 2021, according to many crypto enthusiasts. However, as we enter the final week of the year, BTC has shown little signs of bullishness, with the exception of a couple of bullish outbursts.