Hidden Bitcoin Agenda? CryptoQuant CEO Weighs In On Ongoing Rise In BTC Accumulation

Over the past few days, Bitcoin (BTC) has seen a significant surge in whale accumulation. Ali highlighted that the “number of BTC addresses holding 100+ BTC increased from 15,913 to 16,006 during the recent correction. While this trend is noteworthy because it suggests whales bought the dip, Ki Young Ju, the CEO of CryptoQuant, an on-chain [...]

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Bitcoin Bull Cycle Likely To Go On Till Mid-2025: CryptoQuant CEO

The CEO and founder of the on-chain analytics firm CryptoQuant has explained how this Bitcoin bull cycle could probably last till mid-2025. Profit-Taking From Old Bitcoin Whales Lasted For 18 Months In Previous Cycles In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed about a pattern that old whales have followed in terms of profit-taking during the past cycles. “Old whales take profits during bull markets,” notes Young Ju. “Their selling brings new capital into accumulation addresses, raising realized prices.” Accumulation Addresses refer to the Bitcoin wallets that have no history of selling. These addresses also have a few other conditions, such as they must have at least two deposits and shouldn’t be connected to miners or centralized exchanges. They should also carry a balance of at least 10 BTC, and their last transaction should have been within the past seven years. Related Reading: Shiba Inu, XRP Forming Bullish Divergence, Analytics Firm Reveals The Accumulation Addresses basically reflect the perennial HODLers of the market, who only buy more and never sell. During bull markets, as old whales break their silence to harvest their profits, demand from these HODLers absorbs the selling. To display this trend, the CryptoQuant CEO has made use of the “Realized Price” metric, which keeps track of the cost basis of the average investor belonging to this cohort. When the value of this indicator is above the spot price of the cryptocurrency, it means the cohort as a whole is in a state of unrealized loss right now. On the other hand, it being under BTC’s value implies these diamond hands are currently carrying profits. Now, here is a chart that shows the trend in the Realized Price for the Bitcoin Accumulation Addresses over the past decade: As shown in the above graph, the Realized Price for this cohort observed a rise during the last two Bitcoin bull runs. This would suggest that these HODLers were buying as prices were going up, thus raising their average cost basis. This accumulation likely corresponded to profit-taking from other entities in the market. As Young Ju has pointed out, this profit-taking spree lasted for about 18 months in these past cycles. Related Reading: Bitcoin Crashes To $64,000: Will This Historical Support Hold? From the chart, it’s visible that the indicator has once again started showing an uptrend with the price rally this year. This would suggest that the Accumulation Addresses are back to absorbing profit-taking from old whales. So far, this rise has lasted for around four months, which means that there could still be around another fourteen months of it left, if the last two cycles are anything to go by. Based on this, the analyst thinks this latest Bitcoin bull cycle could end up running into mid-2025. BTC Price Bitcoin has edged close to the $70,000 level during the past day after observing a surge of around 3%. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows

On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 200,000 BTC every week. Short-Term Holder Bitcoin Whales Have Continued To Accumulate Recently As explained by CryptoQuant author Axel Adler Jr in a post on X, the demand among the short-term holder whales has decreased since the all-time high, although it still continues to remain strong. Related Reading: Buy Or Sell Bitcoin? Quant Reveals What Leading Metric Says The “short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. This cohort includes the new investors in the market, as well as the fickle-minded traders who make moves often and don’t tend to HODL. The investors who make it past the 155-day threshold are put inside the “long-term holders” (LTHs), which is a group that’s generally considered to reflect the resolute side of the sector. In the context of the current discussion, the investors of interest aren’t the ordinary STHs, but rather the humongous entities called whales. Formally, these investors are defined as those holding more than 1,000 BTC in their wallets. At the current exchange rate, this lower limit is worth $61.5 million, which is massive indeed. Whales can be influential beings on the network because of these large holdings, so their behavior can be something worth keeping an eye on. The STH whales would naturally correspond to the large holders who only bought within the past five months. Here is a chart that shows the trend in the exchange outflows being made by these new whales in the Bitcoin market over the last few years: As displayed in the above graph, the 7-day simple moving average (SMA) of the Bitcoin STH whale exchange outflows had spiked to pretty high levels earlier in the year, when the rally towards the new all-time high (ATH) price had taken place. Naturally, this spike would suggest demand for buying the cryptocurrency was high from new whale investors entering the space. At the peak, the indicator implied accumulation was occurring at the rate of a whopping 452,000 BTC per week. Related Reading: Bitcoin Will Be Set For New ATHs If It Breaks This Resistance: Analyst A part of this buying would correspond to the demand coming in from the spot exchange-traded funds (ETFs) – new investment vehicles for Bitcoin only approved at the start of this year that provide for an indirect way to invest into the asset in a format that may be preferrable for the more traditional investors. From the chart, it’s visible that the demand from the new whales has seen a clear decline in the period since the ATH, but accumulation nonetheless remains substantial as the STH whales are still potentially buying at a rate of around 200,000 BTC per week. BTC Price Bitcoin has continued to be stagnant recently as its price is trading around $61,600 right now, still very much inside the range. Featured image from Andrew Bain on Unsplash.com, CryptoQuant.com, chart from TradingView.com

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Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply

On-chain data shows that the Bitcoin whales holdings have grown to 25.16% of the entire supply, and their net accumulation has continued recently. Bitcoin Investors With 1,000 To 10,000 BTC Have Continued To Buy Recently According to data from the on-chain analytics firm Santiment, the BTC whales have accumulated more than 266,000 BTC since the [...]

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Bitcoins Largest Holders Are Stacking Again What It Means For The Market

The Bitcoin market has shown high volatility in April, having produced similar levels of gains and losses over the past three weeks. Amidst the choppy price action, Bitcoin whales appear to be increasing their holdings, perhaps in anticipation of future price gains. Related Reading: Bitcoin Ready To Reclaim $90,000? BTCs Next Big Move Could Come Next Week Bitcoin Whales Add 53,600 BTC, Now Hold 68% Of Supply In an X post on April 18, prominent blockchain analytics firm Santiment has provided valuable insight on the recent behavior of the major Bitcoin stakeholders. Despite the BTC market still displaying significant levels of uncertainty, Santiment reports a strong confidence level among investors holding between 10 and 10,000 BTC. The analytics firm states that these key Bitcoin holders have accumulated 53,600 BTC from March 22, and now control 67.77% of Bitcoin in circulation. During the period of this accumulation spree, the BTC market has failed to establish a clear price direction with significant swings in either direction mediated by periods of tight consolidation. Notably, BTC dropped by 13% in early April, twice retesting the $74,000 support level before rebounding to reach a high of $88,000 on April 15. Since then, it has entered a consolidation phase, fluctuating within a range of $83,000 to $86,000. The ongoing accumulation trend among Bitcoin whales amid this price uncertainty signals growing market confidence, as major holders appear to be positioning for a potential rally. For retail traders, this behavior serves as a strong bullish indicator, suggesting that there is sufficient underlying demand to drive and sustain further price appreciation. Related Reading: Chainlink Price Continues To Hover Around $12.5 Levels To Watch What Next For Bitcoin? Following the inauguration of US President Donald Trump in January, Bitcoin has fallen victim to the macroeconomic factors as new tariff policies have caused significant market panic among investors. Since hitting an all time high around $109,000 on January 20, the premier cryptocurrency slipped into market correction to trade as low as $74,000 on April 7 and 9. Notably, the premier cryptocurrency produced a price rebound from these market lows, as the US Government announced a 90-day new tariff pause. However, the ongoing consolidation that has lasted over the past week indicates the lack of a bullish market catalyst. Bitcoin enthusiasts will hope for positive developments, including a potential Federal Reserve rate cut following recent pressure from Trump. For multiple analysts, Bitcoin must cross the $91,000 resistance to validate any potential for a sustainable bullish uptrend. If this price gain occurs, the leading cryptocurrency is tipped for a return to its all-time high and perhaps new price discovery. At press time, Bitcoin continues to trade at $85,226, reflecting a price gain of 0.72% in the past day. Featured image from Pexels, chart from Tradingview

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Bitcoin Mega Whales Are Buying, Time For Rally To Return?

On-chain data shows that the largest number of investors in the Bitcoin market are finally buying, which could be bullish for the assets value. Bitcoin Mega Whales Have Shown Net Inflows In The Past Day In the past few weeks, the Bitcoin price has struggled to mount any significant bullish momentum as it has been [...]

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Bitcoin Stays Down, But Whale Wallets Quietly Climb to 4-Month High

On-chain data shows the Bitcoin whales have seen their population grow recently, despite the bearish action that the price has been facing. Bitcoin Whales Have Seen Notable Growth In Past Five Weeks According to data from the on-chain analytics firm Santiment, whale-sized Bitcoin wallets have recently climbed to their highest point since December of last year. The indicator of relevance here is the “Supply Distribution,” which tells us, among other things, the number of wallets that belong to a particular coin range. The metric’s value for the 1 to 10 coins range, for example, represents the number of investors or addresses who own between 1 and 10 tokens. Related Reading: Will Bitcoin Downtrend Continue? This Metric Suggests Yes In the context of the current topic, the range of interest is 1,000 to 10,000 coins. The investors of this size ($84.2 million to $842 million in USD terms) are popularly known as the whales. Due to the massive scale of their holdings, these investors can carry some degree of influence in the market. Naturally, each of them on their own may not be relevant for the cryptocurrency, but the group as a whole can be. The Supply Distribution helps track exactly this collective behavior. Now, here is the chart shared by the analytics firm that shows the trend in the Bitcoin Supply Distribution for the 1,000 to 10,000 coins group over the last few months: As displayed in the above graph, the Bitcoin Supply Distribution for the whales observed a plummet alongside the December price peak, implying a large amount of these humongous investors exited the market. The same pattern was also witnessed during the January top, albeit at a much smaller scale. This would indicate that the selling from the whales once again obstructed the BTC rally. During most of February, the metric consolidated at its lows, but starting with the last week of the month, its value began to rise. The surge continued throughout March and today, there are 1,993 whale-sized addresses on the network, the highest level since the December top. Related Reading: XRP & These Altcoins Share The Same TA FateWhats Coming? From the chart, it’s visible that this growth in whale entities has come while Bitcoin has been struggling around its lows, a potential sign that big-money investors have been looking at the recent price levels as profitable entry points into the cryptocurrency. “There are many factors contributing to the polarizing crypto markets right now, but it can be taken as a slight sign of confidence that one of the most important key stakeholder tiers in cryptocurrency has grown by +2.6% in the past five weeks alone,” notes Santiment. It now remains to be seen whether this buying from the Bitcoin whales will pay off or not. BTC Price Bitcoin has continued its sideways movement recently as its price is still stuck around the $84,000 level. Feature image from Dall-E, Santiment.net, chart from TradingView.com

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Bitcoin Accumulation Resumes After 3 Months Of Distribution Analyst

Bitcoin (BTC) continues to trade below the $85K level, fueling fears of further downside as the bearish trend remains intact. Bulls are losing momentum, failing to reclaim key resistance levels and hold lower demand zones, raising concerns about a potential continuation of the correction. Related Reading: 130,000 Ethereum Moved Off Exchanges Bullish Signal? Macroeconomic uncertainty and volatility remain key drivers of price action, with erratic policy decisions from U.S. President Donald Trump adding to the turbulence in both crypto and traditional markets. The global trade war narrative and tightening monetary conditions continue to weigh heavily on risk assets, contributing to Bitcoins inability to sustain a meaningful recovery. However, there is a shift in market behavior that could indicate a turning point. Key metrics from Glassnode reveal that after three months of distribution, Accumulation Trend Scores hint at early signs of BTC accumulation. Historically, a transition from distribution to accumulation has often preceded a recovery phase, suggesting that investors might be stepping back in at these lower levels. The next few weeks will be crucial, as Bitcoins ability to hold support and attract fresh demand will determine whether the market is preparing for a rebound or a deeper correction. Bitcoin In Correction Mode Accumulation Trends Hint At A Possible Shift Bitcoin has officially entered correction territory after losing the $100K mark, and the bearish trend was fully confirmed when BTC failed to hold above $90K. Since reaching its all-time high (ATH) of $109K in January, Bitcoin has dropped over 29%, and it appears this trend could continue as global macroeconomic conditions remain unfavorable. Related Reading: Solana Holds Bullish Pattern Expert Sets $140 Target Trade war tensions between the United States and key global economies like Europe, China, and Canada continue to pressure financial markets, leading to uncertainty and risk-off sentiment. As these geopolitical issues intensify, both crypto and traditional markets remain highly volatile, struggling to find stability. However, not all indicators are bearish. Ali Martinez shared insights on X, revealing that the tide is turning for Bitcoin. After three months of distribution, the Accumulation Trend Scores model is hinting at early signs of BTC accumulation. Historically, these phases signal that large investors are re-entering the market, positioning themselves ahead of a potential recovery. This accumulation phase is a critical turning point that will determine whether Bitcoin sees a fast recovery above key supply levels or a long consolidation period before the next major move. The next few weeks will be decisive for BTCs short-term outlook. $80K Retest on the Horizon? Bitcoin is currently trading at $83,000, caught in a tight consolidation as it struggles to break above $85K while maintaining support at $82K. This range-bound price action has left investors uncertain, with bulls attempting to reclaim higher levels and bears pressing for further downside. If bulls want to regain control, BTC must push above $89K, a key resistance level aligned with the 4-hour 200 moving average (MA). A successful breakout above $90K could confirm a recovery trend and open the door for further gains toward $95K and beyond. Related Reading: 640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours Bullish Accumulation? However, if Bitcoin fails to break above $90K in the coming sessions, the risk of a deeper correction increases. Losing $82K could send BTC into a downward spiral, potentially retesting $80K or even lower levels. With market sentiment still fragile, the next major move will likely determine the short-term trajectory of Bitcoins price action. Featured image from Dall-E, chart from TradingView

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Bitcoin Accumulation: HODLers Are Buying 15,000 BTC Per Month

On-chain data shows the Bitcoin HODLers are currently displaying net accumulation behavior, as they grow their holdings by 15,000 BTC per month. Bitcoin Long-Term Holders Have Been Accumulating Recently According to data from the on-chain analytics firm Glassnode, these investors were previously aggressively distributing during the bear market lows. The HODLers, or more formally, the “long-term holders” (LTHs), make up a Bitcoin cohort that includes all investors that have been holding onto their coins since at least 155 days ago. The LTHs make up one of the two main holder groups in the market; the other cohort is called the “short-term holder” (STH) group and naturally includes only investors that bought their BTC less than 155 days ago. Statistically speaking, the longer a holder owns a coin, the less likely they become to sell it at any point. This means that the LTHs are the more resolute bunch of the two groups, which is why they are called the “HODLers” or the diamond hands of the market. Related Reading: Bitcoin Bearish Signal: NVT Golden Cross Enters Overbought Zone As these investors are an important part of the sector, their movements can be worth tracking. An indicator called the “HODLer net position change” measures the monthly rate at which these investors are buying or selling a net amount of Bitcoin right now. The chart below shows the trend in this metric over the last few years: The value of the metric seems to have been green in recent months | Source: Glassnode on Twitter When the HODLer net position change has a positive value, it means these investors are receiving inflows into their holdings currently. On the other hand, negative values suggest a net number of coins are exiting the supply of the LTHs. As displayed in the graph, the Bitcoin HODLer net position change had a deep red value during the bear market lows that followed the November 2022 FTX crash. This means that the LTHs had been selling during this period. This sharp negative spike has been an exception to the long-term trend, however, as the HODLers have actually been showing an overall strong accumulation behavior over the past couple of years. The last time these investors participated in consistent distribution was during the bull rally in the first half of 2021. From the chart, it’s visible that after the aforementioned brief period of distribution at the bear market lows, the LTHs switched back to accumulation just before the current rally began. Related Reading: This Highly Profitable Bitcoin Cross Has Just Formed Again These diamond hands have continued to add to their holdings throughout the rally so far, showing that they haven’t been allured by the profit-taking opportunity. This can be a bullish sign for the long-term sustainability of the rally. Though, very recently, the monthly amount that they have been adding to their holdings has been trending down. Nonetheless, the indicator’s value still remains positive, as the Bitcoin LTHs are accumulating at a rate of 15,000 BTC per month currently. BTC Price At the time of writing, Bitcoin is trading around $29,100, up 1% in the last week. BTC has seen some heavy fluctuations during the past day | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com

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Bitcoin Sharks Continue Accumulation, But Whales Stagnate

On-chain data shows the number of Bitcoin sharks has continued to increase recently, but the whale count on the network has hit stagnation. Bitcoin Sharks Have Continued To Go Up In Number Recently According to data from the on-chain analytics firm Santiment, the number of whales on the Bitcoin blockchain has observed a slight decline during the last couple of months. The relevant indicator here is the “Supply Distribution,” which measures the total number of addresses that belong to each of the wallet groups on the network. The addresses are divided into these “wallet groups” on the basis of the total amount of BTC that they are carrying in their balances right now. In the context of the current discussion, there are four such cohorts that are of interest: 0-0.01 coins, 0.01-1 coins, 1-100 coins, and 100+ coins. Naturally, an address belonging to any of these groups would have its balance inside the range of the group in question. So if the Supply Distribution is applied to these cohorts, it would tell us (among other things) the total number of addresses on the chain that satisfy the respective conditions. Now, here is a chart that shows the trend in the Bitcoin Supply Distribution for each of these four cohorts since the start of the year: Looks like only one of these metrics has continued to constantly grow in recent days | Source: Santiment on Twitter The first of these groups, the 0-0.01 coins range, signifies the small retail holders of the market. From the above graph, it’s visible that these investors haven’t changed in number much lately as their Supply Distribution curve has been moving sideways over the past seven weeks. This would suggest that adoption among small investors isn’t rising for the cryptocurrency at the moment. Related Reading: Bitcoin Will Reach $175,000 If Prices Break Above This Rising Channel, Trader Claims The second group of relevance (0.01-1 BTC) has also been moving flat recently, showing that retail investors as a whole have hit a state of stagnation on the network. Unlike these cohorts, though, the indicator’s value for the 1-100 coins group, which is sometimes popularly referred to as the “sharks,” has only continued to climb higher in the past few months. This would imply that these decently-sized holders are still interested in buying the cryptocurrency, which could be a positive sign for the asset’s rally. While the sharks may hold some influence in the market due to the size of their holdings, they don’t hold nearly as much power as the largest cohort in the market: the whales. These humongous investors with 100+ BTC can move around a large amount of coins on the network, and thus, can cause noticeable ripples in the market. Due to this reason, these holders’ behavior may be considered the most important to watch. As displayed in the graph, the number of whales on the network has observed a decline during the last couple of months, although the degree of the downtrend hasn’t been too much. Nonetheless, one fact remains: they haven’t been accumulating recently. Related Reading: Bitfinex Hackers Surrender: Couple Agrees to Forfeit 120,000 Bitcoin in Plea Deal What these investors do next from here may be worth keeping an eye on, as Santiment explains that if they start buying again, the possibility of a breakout would greatly increase. BTC Price At the time of writing, Bitcoin is trading around $29,300, down 3% in the last week. BTC has plunged during the past day | Source: BTCUSD on TradingView Featured image from Flavio on Unsplash.com, charts from TradingView.com, Santiment.net

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Bitcoin Bullish Signal? Small Investors Show Rapid Accumulation

On-chain data shows small Bitcoin holders have accumulated recently while whale holdings have decreased, a sign that may be bullish in the long term. Bitcoin Investors With 0-1,000 Coins Have Increased Their Holdings Recently As a Twitter user has pointed out using data from Santiment, holders with wallet amounts in the 0-1,000 coins range have aggressively accumulated at recent lows. The relevant indicator here is the “Bitcoin Supply Distribution,” which tells us which wallet groups are holding what percentage of the total supply right now. Wallets (or more simply, holders) are divided into wallet bands based on the number of coins they are holding at the moment. For example, the 1-10 coins cohort includes all addresses that are currently carrying at least 1 and at most 10 BTC. The Supply Distribution metric for this group measures the collective balance of all the wallets falling inside this range. Related Reading: What Makes Big Eyes Coin, Bitcoin Cash, And Solana Better Than Most Preceding Projects? Now, here is a chart that shows the trend in the Bitcoin Supply Distribution data for the 0-1,000 coins and 1,000-1,000,000 coins bands: Looks like the values of the metric for the two groups have moved oppositely to each other in recent days | Source: ?igMak on Twitter As you can see above, the Bitcoin Supply Distribution curve for the 1,000-1,000,000 coins band has observed a sharp decline recently. The holders belonging to this group are the whales, which means that the percentage of the supply held by these humongous holders has been going down, suggesting that they have been capitulating during this deep bear market. The supply share held by the 0-1,000 coins group, on the other hand, has rapidly increased recently, implying that retail investors have been accumulating large amounts during the recent lows in the price of the asset. From the chart, it’s apparent that such a pattern was also seen during the 2018/2019 bear market, albeit the scale of movement from both these groups was much smaller. Interestingly, this trend only formed in that bear after the cyclical low was already in for BTC. Related Reading: Bottom Signal: This Bitcoin Ratio Declines To Four-Year Low Thus, if history is anything to go by, this recent accumulation from the 0-1,000 coins group could help Bitcoin form the bottom for the current cycle (if it’s not already in), and therefore reverse the coin towards a bullish trend in the long term. BTC Price At the time of writing, Bitcoin’s price floats around $16,800, up 1% in the last seven days. Over the past month, the crypto has gained 2% in value. The value of the crypto seems to still be stuck in a sideways trend | Source: BTCUSD on TradingView Featured image from André François McKenzie on Unsplash.com, charts from TradingView.com, Santiment.net

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Bitcoin Is Flashing Accumulation — Not Distribution, Says Macro Analyst

Bitcoin macro analyst TechDev says that Bitcoin’s current behavior suggests accumulation rather than distribution. Covered: Bitcoin Accumulation Trends BTC Reaching An Inflection Point Despite the widespread bearish consensus in the conversation online, Bitcoin macro analyst TechDev is going against the grain to show why he thinks Bitcoin is being accumulated rather than distributed right now. […]

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Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up

On-chain data shows Bitcoin miner reserve has showed a sharp spike recently, suggesting that miners are currently loading up on the crypto. Bitcoin Miner Reserve Shoots Up; Trend Of Accumulation From Last Year Continues As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve has shown strong uptrend recently. This seems to be a continuation of the accumulation trend from the last year. The “miner reserve” is an indicator that tells us the total amount of Bitcoin currently stored in the wallets of miners. When the trend in the metric is towards up, it means miner inventories are growing as they stock up on more of the coin. Such a trend can be bullish for the price of the coin as it shows miners are currently accumulating BTC. On the other hand, a downtrend in the indicator implies miners have started to dump their Bitcoin. This kind of trend is naturally bearish for the price of the crypto as miners usually sell in big amounts. Related Reading | Why Sovereign Nation States May Begin Acquiring Bitcoin In 2022 Now, here is a chart that shows the trend in the BTC miner reserve over the past couple of years: Looks like the value of the indicator has showed sharp uptrend recently | Source: CryptoQuant As you can see in the above graph, the miner reserve has been gradually moving up since May. A few days back, when the price of Bitcoin dropped down to $39k, the metric showed a huge spike up as miners bought the dip. Related Reading | Jack Dorsey’s Block To Democratize Bitcoin Mining With Open Source Mining System Miners have traditionally been big sellers in the market as they have had to sell some of what they mine to keep their operations running. However, as BTC’s price has risen, and their machines have gotten more advanced and efficient, miners have started selling lesser as it’s enough to sustain electricity and other mining costs. Miners, who have originally always brought selling pressure to the market, have been shifting towards becoming hodlers for a coupe of years now. This can be quite bullish for the price of the coin in the long term. BTC Price At the time of writing, Bitcoin’s price floats around $42k, down 0.6% in the last seven days. Over the past month, the crypto has lost 10% in value. The below chart shows the trend in the price of BTC over the last few days. BTC's price plunges down after breaking above $44k | Source: BTCUSD on TradingView BTC managed to reach as high as $44.4k in its recent move up, but today the crypto has once again come back down, erasing the gains of the past couple of days. Featured image from Unsplash.com, charts from TraadingView.com, CryptoQuant.com

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Bitcoin Whales Continue To Accumulate As BTC Makes Recovery Push

On-chain data shows that Bitcoin whales have continued to accumulate recently as the asset has been trying to make a push toward recovery. Bitcoin Whales Have Continued To Add To Their Holdings Recently According to data from the on-chain analytics firm Santiment, the whales have bought around $3.5 billion in the digital asset since the first week of April. The relevant indicator here is the “BTC Supply Distribution,” which tells us about the total amount of Bitcoin that each wallet group in the market is holding right now. The wallet groups here refer to cohorts of addresses divided based on the total number of coins that they are carrying in their balances currently. In the context of the current discussion, the 1,000-10,000 coins group is the one of interest. Naturally, this cohort would include all addresses or investors who are holding at least 1,000 BTC and at most 10,000 BTC. As the only holders that own such large wallets would be the whales, this group can provide insight into the behavior of these humongous investors. If n the Supply Distribution is applied for this specific cohort, it would track the combined amount of Bitcoin that all the whales falling inside this range are holding currently. Now, here is a chart that shows the trend in the BTC Supply Distribution for the whales over the last few months: The value of the metric seems to have been going up in recent days | Source: Santiment on Twitter As displayed in the above graph, the 1,000-10,000 coins group has registered an increase in its supply recently. More specifically, since the first week of April (that is, just before the rally had hit what has so far been the top), the whales have added around 131,600 BTC (worth about $3.5 billion at the current exchange rate) to their wallets. Related Reading: Stablecoins Supply Finally Shows Rise, Here’s Why This Is Bullish For Bitcoin It would appear that these humongous Bitcoin investors were constantly adding to their addresses as the price was going down, perhaps hoping to catch the bottom. Recently, however, the group had slowed down as the decline was showing no signs of stopping, and fresh FUD like the SEC charges against Binance and Coinbase had emerged in the market. But a few days back, when Bitcoin had plunged below $25,000, the supply of the whales had started showing a rapid rise, implying that this cohort was heavily bought at the low prices. Related Reading: Bitcoin Short-Term Holders Still Bullish, Will Rally Restart? Generally, while buying is a bullish sign for the price, it would appear to have held up for the asset this time as well, since the coin has shown some recovery efforts since this latest buying spree from these holders began, with the price even going above $27,000 for a brief period during the past day. So far, the whales haven’t shown any signs of stopping their latest accumulation streak, as their supply has now risen to a seven-month high of 4.65 million BTC. BTC Price At the time of writing, Bitcoin is trading around $26,700, up 2% in the last week. BTC has been making a recovery push | Source: BTCUSD on TradingView Featured image from Swanson Chan on Unsplash.com, charts from TradingView.com, Santiment.net

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Retail Investors Boost Bitcoin Accumulation By 72% Amid Intense Whale Selling Details

This trading week proved rather turbulent for Bitcoin as the premier cryptocurrency fell to as low as $91,000 on Monday amid concerns of a potential trade war between the US and Canada, Mexico, and China. Though Bitcoin soon made a sharp recovery rising briefly above $102,000, the flagship cryptocurrency currently trades above $96,000 in what appears to be a range-bound market. Meanwhile, blockchain analytics firm Glassnode has provided valuable insights on Bitcoin investor behavior in the last few months. Related Reading: Bitcoins Exchange Reserves PlungeAre We On The Brink Of A Rebound? Bitcoin Retail Investors Stacking 10,627 BTC Daily  In a new X post, Glassnode dived into the recent activity of Bitcoin holders stating that retail investors i.e. address holding 1 BTC, are presently on an accumulation spree stretching to mid-December. Notably, these small investors are purchasing Bitcoin at an accelerated average rate of 10,627 BTC per day, which represents a 72% surge compared to last years daily average of 6,177 BTC. This aggressive buying by retail investors marks a stark contrast to their behavior in November where they opted to take profits as Bitcoin soared past $100,000.  However, their renewed accumulation despite Bitcoins woes since December suggests a strong confidence in the assets long-term profitability.   On the other end, Bitcoin whales i.e. investors holding over 1000 BTC, are offloading their assets at a rather unprecedented rate.  Since November 24, these large investors have been moving Bitcoin to exchanges at an alarming average rate of 32,509 per day, suggesting a potential 9x increase in selling pressure compared to BTC’s yearly average. Generally, a large sell-off by market whales is a bearish signal indicating uncertainty about an asset’s future price.  However, the Bitcoin community remains bullish as a significant portion of the offload by the market whales can be attributed to profit-taking rather than loss of confidence. Furthermore, the recent accumulation surge by retail investors has served as a key absorber of supply, mitigating potential drastic price declines. Albeit, as Bitcoin struggles to find some stability, retail investors must maintain their current demand level which is crucial in sustaining the assets bullish structure. Related Reading: BNB Price Poised to RallyIf It Can Overcome This Hurdle BTC Price Overview  At press time, Bitcoin trades at $96,679 after a 0.84% decline in the past day. This negative performance underlines the asset’s form in the past week in which prices dipped by a cumulative 5.71%. Despite the price decline, trading volume has surged by 17.22%, signaling increased market activity and interest. Bitcoin’s price action indicates consolidation within the $95,000$100,000 range, setting the stage for a potential breakout. To confirm an uptrend, market bulls must drive a rally beyond the critical $105,000 resistance level. Featured image from blockgeni, chart from Tradingview

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Microstrategy Buys More Bitcoin: Heres How Much Profit It Holds Now

Software company Microstrategy bought another $37 million worth of Bitcoin, bringing its unrealized profit to $37 million. Microstrategy Now Holds This Much In Unrealized Bitcoin Gain Michael Saylor, the founder and chairman of Microstrategy, has announced in an X post that the firm purchased an additional 850 BTC at $37.2 million in January, which was recently approved. In a post on X, CryptoQuant Netherlands community manager Maartunn explains four important facts about Microstrategy’s portfolio after this latest shopping spree. Related Reading: XRP Buy Signal Goes Off, Analyst Says This Is How Long Uptrend Will Last First, here is a chart that shows how the total supply held by Microstrategy has grown over the last few years: The trend in the total amount of the cryptocurrency held by the company | Source: @JA_Maartun on X The chart shows that the company has made several Bitcoin purchases over the past year and has substantially grown its holdings. Following the latest buying move, the firm’s wallets hold 190,000 BTC. This is a staggering amount, as the entire circulating supply of the asset is around 19.6 million BTC right now, which means Microstrategy alone holds almost 1% of the BTC supply. For perspective, all the Bitcoin spot exchange-traded funds (ETFs), including the Grayscale Bitcoin Trust (GBTC), combined, hold about 3.3% of the coins in circulation. Next, Maartunn has shared a chart displaying the cost of each purchase. The prices at which the firm made each of these buys | Source: @JA_Maartun on X Adding up all these costs, the total price of Microstrategy’s Bitcoin stack is around $5.932 billion. However, the chart below shows that the company’s actual BTC value differs from this amount. Looks like the value of the firm's holdings has significantly gone up in recent months | Source: @JA_Maartun on X As the graph shows, Microstrategy’s stack’s value at the current cryptocurrency price is notably higher than the amount it used to acquire these coins. In particular, the value of the company’s holdings is currently around $8.1 billion. Finally, the analyst shared a chart revealing the firm’s unrealized profit and loss trend over the years. The value of the indicator appears to be highly positive right now | Source: @JA_Maartun on X Microstrategy’s Bitcoin holdings had been in the red during the 2022 bear market and most of 2023, but with the start of the rally last October, the company’s fates finally changed as it returned to the green. Related Reading: XRP, SOL Among Coins With Red Sentiment, Time To Buy Against Crowd? The firm’s BTC stack holds significant unrealized gains of almost $2.2 billion. It would appear that Saylor’s strategy may have paid off, at least for now. BTC Price At the time of writing, Bitcoin is trading around the $43,000 mark, up 1% over the past week. The price of the coin seems to have been moving sideways over the last few days | Source: BTCUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com, CryptoQuant.com

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Bitcoin Dips Are For Buying: BTC Sees Record-Breaking Accumulation

Bitcoin is currently experiencing a retracement after rising to as high as $53,000 on February 20. This recent dip has, however, not deterred Bitcoin whales, with these investors rather seeing it as an opportunity to accumulate more of the flagship crypto token.  Inflows To Accumulation Addresses Hit All-Time High Ki Young Ju, the founder and CEO of the on-chain analytics platform Crypto Quant, revealed in an X (formerly Twitter) post that inflows into accumulation addresses have reached an all-time high (ATH) of 25,300 BTC. Young then highlighted the significance of this occurrence as he elaborated on what accumulation addresses are.  Related Reading: Ethereum Receives Nod Of Approval From Berstein: ETH Price Will Reach $10,000 These accumulation addresses are said to have no outgoing transactions and have a balance that exceeds 10 BTC. Accounts belonging to centralized exchanges (CEXs) or miners are also excluded from this category of wallet addresses. Meanwhile, these addresses have received more than two incoming transactions, with the most recent occurring within the last 7 years.  Simply put, these addresses are the most bullish on Bitcoin and can be regarded as the ultimate Bitcoin Diamond Hands. This development further highlights the growing accumulation trend as more investors continue to stack up their BTC holdings ahead of the next bull run, which is projected to begin after the Halving event.   Interestingly, inflows into accumulation addresses hitting an ATH coincides with Michael Saylors statement that he doesnt plan on selling any of his companys Bitcoin anytime soon. According to the tech executive, Bitcoin is the exit strategy. Saylors MicroStrategy is reported to hold 190,000 BTC BTC at the moment. Spot Bitcoin ETFs Also See Record-Breaking Day Bloomberg analyst Eric Balchunas noted in an X post that the newly listed Spot Bitcoin ETFs (referred to as The Nine) recorded their biggest volume day since Day one of launch. These funds are said to have seen about $2 billion in combined trading volume.  Related Reading: Dogecoin Begins Massive Recovery Trend, But Can These Factors Drive A Rally To $0.2? Balchunas further mentioned that this achievement was largely thanks to big contributions from VanEck ($HODL), WisdomTree ($BTCW), and Bitwises ($BITB) Bitcoin ETFs, which all broke their personal records. VanEcks Bitcoin ETF, in particular, saw more than a 14x increase in its daily average.  Highlighting how explosive this was, Balchunas revealed that VanEck Bitcoin Trust ETF recorded 50,000 trades on February 20. Meanwhile, this same fund had only seen just 500 trades on February 16. Interestingly, the Bloomberg analyst noted that these trades were more likely from retail investors rather than a single big investor. At the time of writing, Bitcoin is trading at around $51,500, down in the last 24 hours, according to data from CoinMarketCap.  BTC price reaches $51,200 | Source: BTCUSD on Tradingview.com Featured image from CNBC, chart from Tradingview.com

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Bitcoin Shrimp Supply Continues To Rise, Why This Is Good

On-chain data shows the Bitcoin shrimp supply has continued to rise recently, which can be positive for the BTC ecosystem. Bitcoin Shrimps Now Hold 6.7% Of The Entire Circulating Supply According to data from the on-chain analytics firm Glassnode, the BTC shrimps have added 1.78% of the cryptocurrency’s supply to their holdings since the LUNA [...]

The post Bitcoin Shrimp Supply Continues To Rise, Why This Is Good appeared first on Crypto Breaking News.

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Bitcoin Bullish Signal: Whales Accumulate 84,897 BTC

On-chain data shows the Bitcoin whales have accumulated 84,897 BTC during the last five weeks, something that could be bullish for the price. Bitcoin Whales Have Been Growing Their Holdings Recently According to data from the on-chain analytics firm Santiment, when whales last accumulated like this, the price jumped about 34%. The relevant indicator here is the “BTC Supply Distribution,” which tells us about the total amount (as well as the percentage) of the Bitcoin supply that each wallet group in the market is holding currently. The addresses on the network are divided into these wallet groups based on the number of coins that they are carrying in their balances at the moment. The 10-100 coins cohort, for instance, includes all addresses that are holding at least 10 and at most 100 BTC currently. Naturally, if the Supply Distribution is applied to this specific group, it would measure the amount of the supply that wallets satisfying this condition are holding as a whole. Now, in the context of the current discussion, the Bitcoin cohort of interest is the “whale” group. Whales are humongous entities that carry at least 1,000 BTC ($26.8 million at the current exchange rate) and at most 10,000 BTC ($268 million) in their wallets. This means that the 1,000-10,000 coins group is of relevance here. The below chart shows the trend in the Bitcoin Supply Distribution for this particular cohort over the past year: The value of the metric seems to have been on the rise in recent days | Source: Santiment on Twitter As displayed in the graph, the Bitcoin Supply Distribution for the whale group has observed an overall uptrend recently. During the last five weeks, these humongous investors have added around 84,897 BTC to their holdings, which is worth around $2.2 billion. Related Reading: PEPE Unlikely To Be As Big As DOGE & SHIB, Says Santiment Generally, the behavior followed by the whales can be something to watch out for, as their massive holdings mean that they have the potential to cause noticeable ripples in the market through their moves. An example of this can be clearly seen in the chart. In the leadup to and during the rally back in January of this year, the whales displayed a trend of accumulation and grew their supplies by around 71,690 BTC. While this accumulation occurred, the price of Bitcoin started its surge and had risen by more than 34% by the time the whales slowed down their buying spree. This trend highlights how the buying pressure from this cohort can help the price go up. Related Reading: Historical Crossover Suggests Ethereum (ETH) Top Is In Since the whales have started their latest accumulation cycle, however, the price has only declined or moved sideways so far. But given that these holders are continuing to expand their reserves, it suggests that they think the current relatively low prices provide a good buying opportunity. It’s unknown when this bullish conviction held by the whales might translate to the price, but the trend could be a positive sign for the long-term sustainability of the rally. BTC Price At the time of writing, Bitcoin is trading around $26,700, down 2% in the last week. BTC has moved sideways recently | Source: BTCUSD on TradingView Featured image from Vivek Kumar on Unsplash.com, charts from TradingView.com, Santiment.net

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BlackRock’s Bitcoin ETF filing fuels U.S. accumulation

BlackRock, the world’s largest asset manager with more than $9 trillion in assets under management, has sent ripples through the cryptocurrency market with its recent filing for a Bitcoin Exchange-Traded Fund (ETF). Despite being home to some of the largest cryptocurrency exchanges, the United States does not have any ETFs tracking Bitcoin’s spot price due […]

The post BlackRock’s Bitcoin ETF filing fuels U.S. accumulation appeared first on CryptoSlate.

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