Bitcoin whales have added USD $11 billion BTC
Adding more than 129,000 BTC despite a recent price correction.
Bitcoin whales, defined as entities holding at least 1,000 BTC, play a pivotal role in the cryptocurrency market due to their ability to sway prices through large transactions. Their activities are closely monitored because they can affect market liquidity and sentiment, given their substantial holdings. For context, at current prices around $85,000 per BTC, a whale holding 1,000 BTC controls assets worth approximately $85 million, amplifying their market impact.
Recent data from Glassnode, a leading on-chain analytics firm, highlights significant whale activity. Over the past two weeks, whales have accumulated more than 129,000 BTC, translating to over $11 billion in value. This accumulation is particularly striking given a recent price correction, with Bitcoin dipping below $77,000 mid-month before rallying to around $85,000, a recovery of about 10%. This resilience suggests optimism among large holders, potentially signaling confidence in Bitcoin’s future value.
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