Cumberland Crypto OTC Desk Reports Spike in large-scale BTC Trades within an hour

Cumberland, the Chicago-based cryptocurrency trading unit of DRW Holdings LLC, reported a sharp, sudden rise in large Bitcoin (BTC) transactions the evening of Monday, April 1. The company revealed the data in a tweet April 4.

The series of thirteen orders that the counter is tracked exceeded 1,000 BTC (about 4.9 million dollars in press time). Cumberland – which has operated a Crypto trading desk (OTC) since 2014 – noted in the tweet that:

"The after-sales analysis of Monday's price campaign revealed a number of large bids (> 1[ads1]000 BTC per order) within a one-hour period, which looks like to be actual buyers versus forced liquidation. "

  Cumberland BTC trading April 1-2" src = " view / 417bf875dc08ca7674e636ebbfaa9f3c.png" title = "Cumberland BTC trading April 1-2 "/> </p>
<p dir= Cumberland BTC trading April 1-2 Source: Twitter April 4

In a follow-up of the tweet, Cumberland's Global Trading Head, Bobby Cho, that the data represented "executed, financially binding trades."

In a separate update on Twitter earlier this week, Cumberland tweeted that Bitcoin had "moved more than 10% for the first time for 8 weeks ", says:

" We are looking at $ 5,000 (ne st even numbers and $ 5,500 – $ 5,800 (strong opposition previously caused more uptrend and downtrend selloffs to and from $ 20,000). "

Cryptocurrency markets this week reported their first bullish inflation of 2019, with Bitcoin starting a sharp rally overnight April 1 – April 2, and getting 14 percent in about an hour pushing over $ 4,500 for the first time this year The coin broke over the $ 5,000 mark on April 3.

Google Trends data showed that searches for "Bitcoin" nearly tripled as a result of this week's positive price action.

To push time, Bitcoin trades at $ 4 964, down 1.34% on the day.

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