Bitcoin Price Rally Fueled by Whales’ $1.6B Buy, Blockchain Data Shows

Posted on by American Coins & Gold

Bitcoin Price Rally Fueled by Whales’ .6B Buy, Blockchain Data Shows
One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot…