Bitcoin

Big Bitcoin Holders Acquire Significant Amount of BTC During Five Months of Market Fluctuations, Reveals Analysis

According to a recent analysis by Santiment, significant accumulation of Bitcoin by large investors has been observed during market downturns. These investors, also known as “sharks” and “whales,” have been increasing their holdings since October 2019, leading to a new all-time high price of over $60,000 for Bitcoin. However, in mid-2022, a market decline caused by US interest rates brought the price down to below $17,000, leading to a period of mass selling.

This trend shifted in December 2023 when large investors started accumulating Bitcoin again, potentially in anticipation of increased institutional investment. This accumulation continued through to late May 2024, with a total of 154,560 BTC being added to their wallets during this period. Typically, when large Bitcoin holders accumulate more, it signals a bullish phase with rising prices. Conversely, when they start selling, it could indicate a bearish market.

Additionally, data shows that 50% of Bitcoin’s total supply from long-term holders has remained inactive for more than a year, suggesting a reluctance to sell for quick gains. These observations have led some experts to predict a potential peak for Bitcoin between October 2024 and March 2025.

For those interested in taking advantage of the current market trends, there are special offers available, including a $600 welcome offer on Binance and up to $2,888 welcome reward at BYDFi Exchange. More information can be found in the source link provided.

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