{"id":572050,"date":"2024-01-28T15:30:14","date_gmt":"2024-01-28T15:30:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=572050"},"modified":"2024-06-11T07:02:37","modified_gmt":"2024-06-11T07:02:37","slug":"bitcoin-whales-increase-their-holdings-by-3-billion-is-a-price-surge-imminent","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-whales-increase-their-holdings-by-3-billion-is-a-price-surge-imminent\/","title":{"rendered":"Bitcoin Whales Increase Their Holdings By $3 Billion – Is A Price Surge Imminent?"},"content":{"rendered":"

It’s only been a month into 2024, and Bitcoin has already experienced a whirlwind of activity. These events range from the SEC’s approval of<\/span> spot Bitcoin ETFs<\/span><\/a> to the cryptocurrency’s price underperforming with a decrease over the past month and <\/span>selloffs from the Grayscale BTC Trust<\/span><\/a>. Amidst all these, on-chain data has revealed an interesting sentiment of strategic accumulation among whales of the largest cryptocurrency.\u00a0<\/span><\/p>\n

According to information provided by crypto analytics firm IntoTheBlock, Bitcoin whales have added over 76,000 BTC worth approximately $3 billion to their holdings since the beginning of the year.\u00a0<\/span><\/p>\n

\n

Bitcoin whales have increased their $BTC<\/a> holdings by ~$3B (76,000 BTC) sine the start of this year. pic.twitter.com\/0hi3Q7WXEo<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) January 27, 2024<\/a><\/p><\/blockquote>\n

Bitcoin Whales Increase Holdings By $3 Billion Despite Market Downturn<\/b><\/h2>\n

The price of Bitcoin climbed shortly after the approval of spot ETFs in the US to reach a 20-month high of $48,600. However, in a surprising turn of events, the crypto has suffered a price dip, reaching as low as $38,880 during the week.\u00a0<\/span><\/p>\n

Related Reading: Helium (HNT) Heats Up: 21% Jump After Telef\u00f3nica Deal Ignites Growth<\/a><\/div>\n

Despite this series of events, on-chain data suggests that the selloff is coming mostly from small-term holders and a few large whales, as the majority of whales have been taking advantage of the price dip to scoop up more Bitcoin into their wallets. <\/span><\/p>\n

The total balance among Bitcoin whales has jumped by 76,000 in January, with the count now nearing 7.8 million BTC. Consequently, addresses holding more than 1,000 BTC have now reached a new all-time high.<\/span><\/p>\n

\n

Despite the negative price movement, Bitcoin held in addresses with over 1,000 BTC has reached a new yearly high! pic.twitter.com\/4qQhbXSD9S<\/a><\/p>\n

\u2014 IntoTheBlock (@intotheblock) January 26, 2024<\/a><\/p><\/blockquote>\n

Price Surge Incoming?<\/b><\/h2>\n

BTC’s future price outlook looks unclear at the moment, as the crypto is <\/span>currently trading at a minor resistance<\/span><\/a> around the $42,000 level. <\/span>According <\/span><\/a>to analyst Micha\u00ebl van de Poppe, Bitcoin could continue consolidating between $37,000 and $48,000 for the coming months, giving altcoins a time to shine.<\/span><\/p>\n

<\/p>\n

BTC is currently trading at $42,522. Chart: TradingView.com<\/a><\/pre>\n
However, fundamentals surrounding Bitcoin point to a price growth in the longer term. Renowned economist Peter Schiff <\/span>recently commented<\/span><\/a> that Bitcoin has the possibility of surging to $10 million within the next decade if it becomes a hedge against the devaluation of the US dollar.<\/span><\/p>\n
Related Reading:  Shiba Inu On Fire: Over 12 Million SHIB Vaporized \u2013 Impact On Price<\/a><\/div>\n
The community and investors also like to keep an eye out for crypto whales because they can significantly influence price movements. When whales stock up on BTC, it often signals they believe the price is undervalued and ready to rise substantially in the near future.<\/span><\/p>\n
If the whale accumulation continues, it could lead to a change to positive sentiment among the wider Bitcoin investing market. The <\/span>next Bitcoin halving<\/span><\/a> is also on its way, and many analysts predict a price growth around the event.\u00a0\u00a0<\/span><\/p>\n
Featured image from Pexels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
It’s only been a month into 2024, and Bitcoin has already experienced a whirlwind of activity. These events range from the SEC’s approval of spot Bitcoin ETFs to the cryptocurrency’s price underperforming with a decrease over the past month and selloffs from the Grayscale BTC Trust. Amidst all these, on-chain data has revealed an interesting sentiment of strategic accumulation among whales of the largest cryptocurrency.\u00a0 According to information provided by crypto analytics firm IntoTheBlock, Bitcoin whales have added over 76,000 BTC worth approximately $3 billion to their holdings since the beginning of the year.\u00a0 Bitcoin whales have increased their $BTC holdings by ~$3B (76,000 BTC) sine the start of this year. pic.twitter.com\/0hi3Q7WXEo \u2014 IntoTheBlock (@intotheblock) January 27, 2024 Bitcoin Whales Increase Holdings By $3 Billion Despite Market Downturn The price of Bitcoin climbed shortly after the approval of spot ETFs in the US to reach a 20-month high of $48,600. However, in a surprising turn of events, the crypto has suffered a price dip, reaching as low as $38,880 during the week.\u00a0 Related Reading: Helium (HNT) Heats Up: 21% Jump After Telef\u00f3nica Deal Ignites Growth Despite this series of events, on-chain data suggests that the selloff is coming mostly from small-term holders and a few large whales, as the majority of whales have been taking advantage of the price dip to scoop up more Bitcoin into their wallets. The total balance among Bitcoin whales has jumped by 76,000 in January, with the count now nearing 7.8 million BTC. Consequently, addresses holding more than 1,000 BTC have now reached a new all-time high. Despite the negative price movement, Bitcoin held in addresses with over 1,000 BTC has reached a new yearly high! pic.twitter.com\/4qQhbXSD9S \u2014 IntoTheBlock (@intotheblock) January 26, 2024 Price Surge Incoming? BTC’s future price outlook looks unclear at the moment, as the crypto is currently trading at a minor resistance around the $42,000 level. According to analyst Micha\u00ebl van de Poppe, Bitcoin could continue consolidating between $37,000 and $48,000 for the coming months, giving altcoins a time to shine. BTC is currently trading at $42,522. Chart: TradingView.com However, fundamentals surrounding Bitcoin point to a price growth in the longer term. Renowned economist Peter Schiff recently commented that Bitcoin has the possibility of surging to $10 million within the next decade if it becomes a hedge against the devaluation of the US dollar. Related Reading: Shiba Inu On Fire: Over 12 Million SHIB Vaporized \u2013 Impact On Price The community and investors also like to keep an eye out for crypto whales because they can significantly influence price movements. When whales stock up on BTC, it often signals they believe the price is undervalued and ready to rise substantially in the near future. If the whale accumulation continues, it could lead to a change to positive sentiment among the wider Bitcoin investing market. The next Bitcoin halving is also on its way, and many analysts predict a price growth around the event.\u00a0\u00a0 Featured image from Pexels<\/p>\n","protected":false},"author":594,"featured_media":572051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6664,4735,3505],"class_list":["post-572050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-crypto","tag-price-action","tag-price-analysis"],"acf":[],"yoast_head":"\nBitcoin Whales Increase Their Holdings By $3 Billion<\/title>\n<meta name=\"description\" content=\"It's only been a month into 2024, and Bitcoin has already experienced a whirlwind of activity. 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