[ad_1]
Cumberland, the Chicago-based crypto-currency trading unit of DRW Holdings LLC, reported a sharp surge in large-scale bitcoin (BTC) transactions on Monday evening, 1 April. The company disclosed the data in a tweet April 4th.
The thirteen order series followed by the trading desk all exceeded 1,000 BTC (approximately $ 4.9 million at the time of publication). Cumberland – which has been operating an OTC encrypted trading desk since 2014 – noted in the tweet that:
"The post-market analysis of Monday night's price action revealed a series of large bids (> 1,000 BTC per order) over an hour, which appear to be actual buyers compared to forced liquidations. "
Cumberland BTC trading on April 1st and 2nd. Source: TwitterApril 4th
In the wake of this tweet, Bobby Cho, Global Head of Trading at Cumberland, clarified that the data represented "executed, economically binding transactions".
In a separate update on Twitter earlier this week, Cumberland tweeted Bitcoin had "moved more than 10% for the first time in 8 weeks," stating:
"We are on the lookout for $ 5,000 (the next even number) and $ 5,500 to $ 5,800 (strong points of resistance that have already triggered several massive up and downtrend sales going up to $ 20,000). "
The cryptocurrency markets announced their first bullish rise this week in 2019: Bitcoin began a sharp recovery overnight, from April 1st to 2nd. The coin then broke the $ 5,000 mark on April 3rd.
Data from Google Trends indicates that searches on "Bitcoin" have almost tripled in response to this week's positive price action.
To squeeze time, Bitcoin is trading at $ 4,964, down 1.34% on the day.
[ad_2]
Source link