Bitcoin Whale Activity Surged after Price Bottomed out, Says Crypto Analytics Firm

Bitcoin whales appear to be buying cryptocurrency prices only after Russian President Vladimir Putin announced a special military operation against Ukraine last Thursday.

According to cryptocurrency analytics firm Sentiment, after the price of BTC crashed in Russia's military advance on Ukraine, Bitcoin whales made some huge transactions, meaning that BTC holders have between $ 100,000 and $ 1 million in their wallets in response to the announcement.

Whether the whales are getting ready to sell their coins or improving their security - among other possibilities - is unclear. As reported, the price of BTC fell immediately after the announcement of the attack, but since then it has recovered quickly and now trades above $ 40,000.