The popularity of Bitcoin soars in the wake of the spot ETFs' remarkable success. Bitcoin's reign remains unchallenged, with demand surging, even amid substantial market pullbacks. Notably, January witnesses a fervent shopping spree among Bitcoin Whales, who amass substantial quantities, leaving meager offerings for smaller wallets.
Data from IntotheBlock reveals a staggering trend, as Bitcoin Whales, holding at least 1,000 bitcoins, augment their holdings by $3 billion or approximately 76,000 bitcoins since the beginning of the year. Currently, these Whales boast possession of a remarkable 7.8 million bitcoins, valued at around $294 billion.
Bitcoin Whale Balance. Source: IntotheBlock.
Despite Bitcoin's recent 21% dip from its peak at $49,000, Whales exhibited resilient demand, acquiring 10,000 bitcoins (over $421 million) during the dip to $38,500. This strategic move led to a 10% recovery in the asset's value. Presently, Bitcoin trades at $42,195, with a trading volume exceeding $17 billion.
Institutions, particularly Bitcoin Spot ETF issuers like BlackRock and Fidelity, have joined the acquisition spree, accumulating nearly $4 billion worth of Bitcoin (equivalent to 94,000 bitcoins) in the initial two weeks of ETF trading.
Contrasting the accumulation trend among Whales and institutions, smaller Bitcoin wallets, holding less than one bitcoin, have experienced a decline since the beginning of the year. Sentiment, a data analytics firm, reports a decrease of 0.94% in these wallets. This decline suggests that market participants are either exiting positions or facing liquidation amidst recent market fluctuations.
Despite the decline in smaller wallets, historical trends, according to Santiment, indicate the possibility of a price surge. The decrease in smaller wallets is seen as a sign of capitulation, potentially leading to a rebound in prices in the coming weeks.
Bitcoin whales seize discounted prices on Bitfinex post-ETF launch, utilizing TWAP strategy. Premium suggests strategic buying, with rising interest in leveraged bullish positions.
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JinseFinanceBitcoin whales have transferred over $800 million to Coinbase following the SEC's approval of a spot Bitcoin ETF. Notable transactions, totaling 17,291 BTC, raise speculation about potential sell-offs. The price of Bitcoin surged to $47,800 after the ETF approval. While some whales sell, others accumulate Bitcoin at higher prices. Max Keiser acknowledges MicroStrategy's founder, Michael Saylor, for his contributions. The cryptocurrency landscape witnesses significant shifts, prompting attention and scrutiny.
BerniceOn-chain data shows the Bitcoin whales have grown in number while the rest of the market has been panicking about the latest plunge in the asset.
Zoey
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CointelegraphJumlah alamat yang menyimpan setidaknya 1.000 bitcoin telah meningkat dalam beberapa minggu terakhir.
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