{"id":601693,"date":"2024-04-06T05:38:53","date_gmt":"2024-04-06T05:38:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=601693"},"modified":"2024-06-11T07:58:15","modified_gmt":"2024-06-11T07:58:15","slug":"bitcoin-whales-maintain-positive-accumulation-behavior-ahead-of-2024-halving-report","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-whales-maintain-positive-accumulation-behavior-ahead-of-2024-halving-report\/","title":{"rendered":"Bitcoin Whales Maintain Positive Accumulation Behavior Ahead Of 2024 Halving: Report"},"content":{"rendered":"
Bitcoin began 2024 with a blast gaining by over 73% in the first quarter of the year to establish a new all-time high price of $73,750. And although BTC soon declined from this value following a turbulent price movement in the last month, its biggest stakeholders have shown a consistent accumulation trend<\/a> throughout the first three months of 2024, indicating a high confidence in the asset\u2019s profitability ahead of the upcoming halving event.\u00a0<\/span><\/p>\n In an X post on Friday<\/a>, blockchain analytics platform Santiment shared that Bitcoin whales are still maintaining the \u201cright direction\u201d in regard to their accumulation pattern. Santiment reported that these whales, which represent holders of 100-100,000 BTC, purchased a total of 319,310 BTC (valued at $21.6 billion) in the last three months.\u00a0<\/span><\/p>\n This report also stated that a significant portion of the newly acquired tokens came from retail traders, i.e., holders of 0-100 BTC, who collectively offloaded 105,260 BTC, valued at $7.2 billion and 0.7% of BTC\u2019s circulating supply, within the same time frame.<\/span><\/p>\n \ud83d\udc33\u2197\ufe0f #Bitcoin<\/a>‘s key stakeholders with 100-100K $BTC<\/a> have ACCUMULATED a collective 319,310 $BTC<\/a> (around 1.4% of the supply) in the past 3 months. Many of these coins came from 0-100 $BTC<\/a> wallets, which have DUMPED 105,260 $BTC<\/a> (-0.7% of supply) in 3 months. https:\/\/t.co\/6KKFgZzrPz<\/a>\u2026 pic.twitter.com\/kXyQrOIRGA<\/a><\/p>\n \u2014 Santiment (@santimentfeed) April 5, 2024<\/a><\/p><\/blockquote>\n In general, BTC whales increased their market share by 1.4% in the last three months, which is interpreted as a rather positive sign ahead of the highly anticipated Bitcoin halving on April 19.<\/a> For context, the Bitcoin halving, which occurs every four years, is a network-programmed event during which the amount of miners’ rewards on the Bitcoin blockchain is reduced by half.\u00a0<\/span><\/p>\n Generally, the Bitcoin halving is regarded as a positive event that results in asset scarcity, thus driving up demand and market price in the long term. This notion may just remain true as Santiment describes the increased accumulation by BTC whales heading into the final weeks before the next halving as a bullish signal, indicating high confidence in the asset\u2019s future valuation.Bitcoin Whales Acquire $21.6 Billion BTC, Boost Market Dominance By 1.4% As Halving Nears<\/span><\/h2>\n
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\n<\/span><\/p>\nBTC Price Overview\u00a0<\/span><\/h2>\n