Are we expecting a Bitcoin Rally?

The move above the resistance at $10,500 was an important stage win on the way to $11,000, but if the bulls fail to lift the Bitcoin price above the next resistance at $10,800 and then $11,000, there is a threat of a downward correction towards support at $10,200.

One of the largest Bitcoin whales in the Crypto Basin emptied its wallet and transferred it to two addresses. According to the Bitcoin Block Bot, 11,230 Bitcoin worth 116 million US dollars changed the wallet on September 11 for a transaction fee of only 2.14 US dollars.

The transactions were split into two transfers. An unknown wallet received BTC 2,730 and another wallet received BTC 8,500. According to Bitinfo charts, the wallet was one of the 30 largest Bitcoin wallets on September 11.

It is not clear to whom the address is attributable. The wallet could be a custodian or institutional investor that manages crypto assets for customers. In addition, the sender could also have deposited his crypto assets in two wallets for security reasons.

Bitcoin hash rate reaches all-time high

The hash rate has been rising rapidly since the beginning of the month and, according to Blockchain.com, reached a new all-time high of 136,486m TH/s on 14 September.