Bitcoin Witnessed Larger Transactions in March

• Bitcoin shows five large transactions in 2023.
• 40,141 BTC moved by whales on March 15.

Lately, Bitcoin’s price was slightly teeter-totters around the $28,000 mark. Despite the ups and downs, it has managed to hold its position as the leading cryptocurrency by market capitalization. BTC showed five massive transactions in 2023, all happened this March. 

The latest massive transaction that happened on March 30 was 20,000 BTC sent to the address of 3JZq4atUahhuA9rLhXLMhhTo133J9rF97j.

Bitcoin’s Top Transaction in March

According to Santiment, Bitcoin’s top 5 whale transactions happened in March. There are a large number of coins moved in March. The top transaction 40,141 BTC moved by whales on March 15.

The chart clearly shows that the coins are moving back to the exchanges between March 13 to March 21 as BTC’s price moved up to $28,000. But the price has been tightened between the $27K- $28K mark showing that the supply again moving off the exchange.

According to Santiment, the total number of active whales and sharks (Yellow) and the most inactive whales or exchange (red) are still rising in March. However, probably the most important thing is the yellow line, and its rise is slower in recent times compared to November and December. 

Based on the large transactions going on in March, the 10-10K BTC range of transactions continue to go down (By percentage) and tapered off. Santiment Stated that it seems like there are some legitimate caution to be wary of if you are hoping that BTC will surge up to $35,000 and beyond. Moreover, Bitcoin is edging closer to the $30,000 mark.

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