User moved USD 1.1 billion in Bitcoin

A Bitcoin user moved $1.1 billion in Bitcoin. Meanwhile, the number of BTC whales reached the highest level since 2016.

With the price of Bitcoin remaining close to $13,000, an anonymous trader decided it was time to move more than $1.1 billion in Bitcoin.

According to the chain data, a Bitcoin Machine trader (BTC) moved more than 88.857 BTC, with an approximate value of USD 1.1 billion in Bitcoin, for a commission of only 0.00027847 BTC, or USD 3.58. The currencies were confirmed in block 654,364 on October 26th.

This transaction is the largest move of any krypton currency by fiduciary value, with Bitfinex setting the previous record in April. They transferred 161,500 BTC, USD 1.1 billion at the time, for a fee of only USD 0.68.

Bitcoin Price Takes a Step Backwards as Stock Market Plummets

The number of Bitcoin whale addresses is the highest since the fall of 2016

The number of Bitcoin „whales“ has risen to a four-year high along with the recent surge in Bitcoin prices.

The Bitcoin Whales (BTC) reached a new all-time high in the midst of last week’s price spike. On October 20th, there were 2,178 Bitcoin addresses containing at least 1,000 BTCs. By October 25th, this number increased to 2,231. According to the data source Glassnode.

Based on this data, one could say that whales control at least 2.23 million BTC, a significant figure equivalent to 12% of the supply in circulation today.

However, whale entity metrics increased by 2.2% last week, possibly adding upward pressure on the price of Bitcoin.

The leading cryptomone by market value rose more than 13% last week to record its best performance in a single week since April.
Anthony Pompliano: Bitcoin’s decoupling from stocks shows that BTC is the „ultimate safe haven

The price of Bitcoin (BTC) „couldn’t be more out of sync“ with the stock market, says Anthony Pompliano, as the data shows that BTC is outperforming macro assets.

In a series of tweets on October 26, Morgan Creek Digital’s co-founder, also known as „Pomp,“ criticized critics for their accusations that Bitcoin was a poor stock.

Pompliano uploaded a graph from the Santiment behavioral analysis platform, which showed that Bitcoin reached 0 for a 30-day correlation with the S&P 500.

„It couldn’t be less correlated than it is now,“ he added in comments.

Continuing, Pompliano pointed out that Bitcoin surpassed the returns of the macroactives since the collapse of the Coronavirus in March of this year.

„So, how did Bitcoin do during an economic recession? It outperformed stocks, bonds, gold, oil and just about everything else. It also has a low or no correlation over any significant amount of time,“ he summarized.

„Bitcoin is the ultimate safe haven and the market is proving it.

For Pompliano, the above correlation between Bitcoin and these assets was simply a short-term phenomenon induced by the events of March.
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