20 July 2026
Bitcoin Rally Halts But Whales Are Becoming Increasingly Active
The Bitcoin rally has finally ended after a solid start of the week. Currently, Bitcoin is trading at $43,500 with 24% gains on the weekly charts.
As the Russian Ruble collapses, Russians started moving their money to Cryptocurrency. The rally has taken a halt as the EU mulls the possibility of expanding sanctions and seeing whether is Russia is using Crypto to avoid sanctions from the West.
Yesterday, Minister Christian Lindner, Germany’s Finance Minister, said that members of the EU and the G7 are working to block Russians from evading the monetary sanctions.
CoinShares research head James Butterfill claimed that the recent Bitcoin rally was largely correlated with political instability.
Ukraine lawmakers also asked major Cryptocurrency exchanges to ban ordinary Russian citizens from trading in Crypto. Although, exchanges rejected their request.
Simultaneously, the trading activity of Bitcoin whales has been increasing during the recent price pump.
According to Santiment report, “While #Bitcoin hovers between $43k and $45k and traders await the next big swing, whales are becoming increasingly active in making massive transactions. In the last three days, there have been 13,400 $BTC transactions exceeding $1M in value.”
The report states Russian rubles trading volumes in BTC are going up, and Ukrainians are also buying BTC.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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