Who is behind this pump? The average transaction size just reached $1.2k, the highest in 5 years. That makes it pretty clear.

After the recent pump of two days ago which came very unexpected as actually all the news and the sentiment was pointing for us to go down. But still BTC was able to take off by $2k in just a matter of hours and that closely after a not-so-good CPI number. Maybe the markets do tend to do the opposite what we expected, but the question still remains: Who is behind a pump when everyone expects the prices to definitely go down?

Here we have to part the entities that invest in BTC, such as shrimps (under 1BTC) and bigger entities like crabs or maybe even Whales (over 1k BTC). Generally we have to look at the average transaction size and compare it to past events and see whether there is something unusual.

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Chart imported from Glassnode

This graph is EXACTLY what we need now, the average transaction sizes over an average of 7 preceding days. Here we can see something very unusual, we hit a $1.2k average transaction size which is miles over anything we had in the past 5 years and would date back to 2018 bull market sizes.

Many may say that $1.2k is not much but beware that this is the mean transaction size as most transactions are form shrimps anyway like us, it usually is very low but still such an increase speaks volumes and is HIGHLY unusual, showing that definitely some bigger bigger entities are at play right now and that at an unprecedented level.