Just a couple of hours ago, a whale was spotted moving 2,210 BTC in a block of 675,713 units worth $125 million. This represents one of the largest transfers on the market in recent times.
The whale is considered to be a large hodler of Bitcoin. The transfer happened as the price of Bitcoin continues to remain strong, trading at around the $57,000 level.
Large hodlers play an important role in determining how the price of Bitcoin is going to change. In this case, the market had a negative response to the transfer, which led to the price of Bitcoin dropping to $56,612 for the first few hours of Monday, after Sunday it was trading at around the $58,000 level.
Basically, it is implied that the movement of the whale had led to a decrease of 2.67%. As reported above, the situation is starting to improve, with Bitcoin passing the $57,000 level again.