Bitcoin Whales Buy Big, Adding $6.16 Billion Worth of BTC to Their Holdings

Whales Accumulate 140,000 BTC in Three Weeks

  • Bitcoin whales, investors holding between 1,000 and 10,000 BTC, have been on a buying spree.
  • In the past three weeks, they’ve added more than 140,000 BTC (equivalent to $6.16 billion) to their holdings.
  • This brings their total Bitcoin holdings to 4.84 million BTC.

Institutional Interest Coincides with Whale Buying

  • The timing of this whale buying activity coincides with increased interest from institutional players.
  • New Bitcoin spot ETF issuers have collectively accumulated over 200,000 BTC in assets under management.
  • This suggests a strong conviction in Bitcoin’s long-term potential.

Bitcoin’s Trading Volume Hits 4-Week High

  • Bitcoin’s trading volume hit a 4-week high in the past week, reaching $39.31 billion in a single day.
  • This surge in trading activity is likely due to the recent price boost experienced by BTC.
  • Other high-cap assets have seen relatively quiet trading volumes, with the exception of Ethereum, which has also seen a substantial price surge.