Bitcoin: The number of transactions with a value of $100,000 or greaterIntoTheBlock
Description
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IntoTheBlock labels the large transactions those where an amount greater than $100,000 USD was transferred. In this case, the Number of Large Transactions indicator aggregates the total number of transactions that had a value greater than $100,000.
The number of large transactions is a relevant metric tracking the count of transactions greater than $100,000. Since this sum of money is not available to the average retail trader on-chain, the indicator acts as a proxy to the number of whales’ and institutional players’ transactions.
An increase in the quantity of these large transactions is accompanied by an increase in price. This indicator follows a symmetrical triangle, tending to break up. Perhaps there is one last bear trap to finally reverse into an uptrend.