Giant whales increased their holdings of more than 30,000 BTC last week, equivalent to approximately US$1 billion

According to monitoring by on-chain analyst Ali, Bitcoin whales purchased more than 30,000 BTC in five days last week, equivalent to approximately US$1 billion. In addition, IntoTheBlock data shows that institutional investors’ trading activities are also increasing, and the number of Bitcoin transactions worth more than $100,000 has hit a peak in 2023. Analysts believe that the current ratio of Bitcoin market value to realized value (MVRV) is about 150%, while the historical peak has reached more than 300%, which means that the market still has room to rise. (U.Today)