Bitcoin Whales Unleash Crazy $4.26 Billion Shopping Spree

U.Today - Latest data from IntoTheBlock shows that Bitcoin (BTC) whales have significantly increased their holdings by 71,000 BTC this week, taking advantage of the recent dip in the BTC price. The Large Holders Netflow metric, which tracks the activity of investors holding more than 0.1% of the total Bitcoin supply, indicates significant accumulation by these large players.

The netflow metric shows a big increase, corresponding to an addition of more than 70,000 BTC, equivalent to more than $4.3 billion. This accumulation occurred at a time when the price of Bitcoin fell sharply to a low of $55,550. The timing suggests that the whales took advantage of the lower prices to add significantly to their positions.

Following this accumulation, the price of BTC rebounded impressively, rising 10.3% to over $60,000 per BTC. This rebound underscores the impact of whale activity on the cryptocurrency market, highlighting how strategic moves by large holders can influence price trends.

The large holder netflow metric serves as a valuable indicator of large investor behavior. Spikes in this metric typically signal accumulation, while dips indicate reduced positions or selling. This week's spike in netflow coincides with the recent drop in price, suggesting that the whales saw the lower prices as a buying opportunity.

The rebound in the price of Bitcoin following their accumulation begs the question: Could this be a sign of market manipulation by the most powerful entities?

Source: Investing.com

Publicații recente
Bybit x Block Scholes Quarterly Institution Report: Markets Anticipate Watershed Moments as Trump Returns as the “Crypto President”
21.11.2024 - 20:00
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
21.11.2024 - 20:00
Bitcoin critic Gary Gensler to step down from SEC in January 2025
21.11.2024 - 20:00
Ethereum Climbs 10% In Bullish Trade
21.11.2024 - 20:00
Coinshift Launches csUSDL, Announces Strategic Partnerships
21.11.2024 - 19:00
Satoshi Nakamoto Nears Rich Elite as Bitcoin Skyrockets Past $98,000
21.11.2024 - 19:00
'Time Will Tell': Binance Bosses Add Intrigue to Bitcoin Mania at $97,000
21.11.2024 - 19:00
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
21.11.2024 - 19:00
Prom Announces Mainnet Launch Bringing Better Blockchain Scalability
21.11.2024 - 19:00
Bitcoin (BTC) to Go Parabolic Once This Happens, Analyst Says
21.11.2024 - 18:00
$62 Billion Hit: Bitcoin (BTC) Secures Mind-Blowing Record
21.11.2024 - 17:00
Bitcoin price today: hits record high above $98k on Trump, ETF options hype
21.11.2024 - 16:00
Crypto Liquidations Top $450 Million as Bitcoin Price Eyes $100,000
21.11.2024 - 16:00
Bitcoin to Finally 'Bury' Ethereum? Peter Brandt Issues Grim Epic 'Letter From the Grave' Call
21.11.2024 - 15:00
DOGE Founder Says Bitcoin Growth Dwarfs ‘Everything Else’ But What About Dogecoin?
21.11.2024 - 15:00

© Analytic DC. All Rights Reserved.

new
Analiza pieței Cum va afecta raportul NFP de mâine cursul de schimb al dolarului american?