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CATEGORY: veteran


Apr 25, 2024 12:05

Newbie Bitcoin Whales Hold 2x As Much As Veterans: Whats Behind This Trend?

On-chain data shows the new whale entrants in the Bitcoin market now hold almost twice as much as the veterans. Here’s what could be behind this shift. Bitcoin Newbie Whale Holdings Have Been Rapidly Growing Recently In a new post on X, CryptoQuant founder and CEO Ki Young Ju has discussed about how the holdings of the new whales compares against the old ones in the market right now. Related Reading: Is The Bitcoin Top Already Here? This Historical Pattern Says So The on-chain indicator of interest here is the “Realized Cap,” which, in short, keeps track of the total amount of capital that the investors have used to purchase their Bitcoin. This capitalization model is in contrast to the usual market cap, which simply measures the total value that the holders as a whole are carrying based on the current spot price. In the context of the current topic, the Realized Cap of the entire market isn’t of interest, but rather specifically that of two segments: the short-term holder whales and long-term holder whales. Whales are defined as entities on the network who are holding at least 1,000 BTC in their balance. At the current exchange rate, this amount is worth $66.6 million, so the whales are clearly quite massive holders. Because of these large holdings, these investors can hold some influence in the market. Based on holding time, the whales can be subdivided into two categories. The short-term holder (STH) whales are those who acquired their coins within the past 155 days, while the long-term holder (LTH) whales have been holding since longer than this timespan. Now, here is the chart shared by Ju that reveals the Realized Cap breakdown between these two Bitcoin whale cohorts: Looks like the metric has shot up for the STH whales recently | Source: @ki_young_ju on X As is visible in the above graph, the Realized Cap of the STH whales has historically not been too different from that of the LTH whales, but that appears to have changed recently. The metric has pulled away for these new whales this year with some very sharp growth, as its value has now reached the $110.6 billion mark. This means that the STH whales have collectively bought their coins at an initial investment of a whopping $110.6 billion. The Realized Cap of the LTH whales, on the other hand, has continued its usual trajectory, floating around $66.9 billion currently. This means that there is now a massive gap between the indicator for these two cohorts. But what’s the reason behind the sudden emergence of this brand-new trend? As mentioned before, the STH cutoff stands at 155 days, which means that the Realized Cap of the STH whales would signify the total value of the purchases made by the whales over the last five months. In the past five months, there has been one event in particular that has stood out, which has also never been present in any of the prior cycles: the approval of the spot exchange-traded funds (ETFs). The spot ETFs provide an alternative mode of investment into the asset through a means that’s familiar to traditional investors. These funds have been bringing in some unprecedented demand into BTC and as their holdings also fall under the 155 days mark, they would count as STH whales. Related Reading: Ethereum To See Fresh Move Soon? What Futures Data Says Bitcoin has also been rallying this year, so all this new investment would have had to purchase at relatively high prices, thus causing the Realized Cap, which correlates to direct capital flows, to inflate even further. BTC Price Bitcoin is now trading at $66,400 after witnessing a surge of more than 6% over the past week. The price of the asset seems to have been overall consolidating sideways recently | Source: BTCUSD on TradingView Featured image from Todd Cravens on Unsplash.com, CryptoQuant.com, chart from TradingView.com

May 24, 2022 05:15

Veteran Investor Jim Rogers Optimistic About Future of Crypto Money – Bitcoin News

Renowned investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, says he has “optimism about the future of crypto money.” However, he is skeptical of central bank digital currencies and warned that the world is looking for something to replace or compete with the U.S. dollar. Jim Rogers on Bitcoin, Crypto, […]

Jan 09, 2022 05:15

Veteran Trader Peter Brandt Shares ‘Sacred Trading Rule’ as Bitcoin Falls, Warns Against Buying the Dip – Bitcoin News

Veteran trader Peter Brandt has shared “a sacred trading rule” he uses in response to a comment about buying bitcoin as the price of the cryptocurrency continues to fall. “Never add to a losing trade,” he affirmed. Peter Brandt Offers Trading Advice Veteran trader Peter Brandt has a trading suggestion for anyone considering buying the […]

Feb 10, 2025 05:55

Bitcoin Veteran Predicts $700,000 Bitcoin Price, $16,000 Ethereum in Epic Valhalla Cycle

Bill Barhydt, the CEO of Abra, a cryptocurrency investment app, recently predicted that Bitcoin could reach $700,000 and Ethereum could hit $16,000 during this market cycle. Barhydt made these bold claims based on his analysis of previous market cycles and the current trends in the cryptocurrency market. Barhydt highlighted the growing interest from institutional investors [...]

The post Bitcoin Veteran Predicts $700,000 Bitcoin Price, $16,000 Ethereum in Epic ‘Valhalla’ Cycle appeared first on Crypto Breaking News.

May 11, 2023 11:15

Take this Bitcoin technical pattern seriously, veteran trader says

With Bitcoin price failing to hold key support at $28,000 once again after Wednesday’s uptick, bears have taken advantage to push prices below $27k. BTC is trading near $26,830 as bulls look to return to the $27k level. The technical outlook for BTC suggests bulls risk giving up more ground to determined bears if a …

<p>The post Take this Bitcoin technical pattern seriously, veteran trader says first appeared on CCNC | Cryptocurrency Newscast.</p>

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