CryptoQuant: Bitcoin Whales in Action! The Big Buying Wave of 22,776 BTC Has Begun - Coin Bulletin

robot
Abstract generation in progress

According to CryptoQuant data, there has been a significant increase in Bitcoin inflows to whale wallets.

According to the latest data, 22,776 BTC has been transferred to whale accumulation wallets. This indicates that large investors are accumulating Bitcoin through over-the-counter (OTC) transactions.

CryptoQuant CEO Ki Young Ju stated that the flow of Bitcoin into whale wallets generally indicates long-term buying by institutional investors and large players. Surpassing the 20,000 BTC threshold indicates a strong accumulation trend in the market.

Is a New Rally Coming in Bitcoin?

Such large BTC inflows are generally interpreted as a signal that the price is trending upwards. If whales continue to accumulate Bitcoin, upward pressure on the price may increase due to the decrease in supply. However, if large investors transfer these BTC to exchanges, a selling wave may also be triggered.

In light of the increasing ETF investments and macroeconomic developments in recent days, the beginning of whales accumulating Bitcoin could be a critical indicator for the market. In the coming days, tracking whale movements will be important for investors.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)