1. BITBILIHome
  2. Article

Bitcoin whales amass billions in crypto amid market fluctuations

• 135 views

TL;DR Breakdown

  • Bitcoin whales have acquired around 131,600 BTC (over $3.5 billion) during the recent market downturn.
  • Despite market volatility, Bitcoin is stable and the broader crypto market shows positive signs.
  • Major financial firms are actively engaging with crypto, suggesting a potential market shift.

Description

Despite these turbulent times in the crypto market, a group of Bitcoin behemoths, known colloquially as ‘Bitcoin whales,’ has been making waves. The ebb and flow of Bitcoin’s market value have kept these substantial investors, who have seized the opportunity to acquire more cryptocurrency, leveraging the downturn to their advantage. These savvy investors, who hold … Read more

Despite these turbulent times in the crypto market, a group of Bitcoin behemoths, known colloquially as ‘Bitcoin whales,’ has been making waves. The ebb and flow of Bitcoin’s market value have kept these substantial investors, who have seized the opportunity to acquire more cryptocurrency, leveraging the downturn to their advantage. These savvy investors, who hold wallets containing between 1,000 and 10,000 Bitcoins, have taken the plunge, accumulating approximately 131,600 Bitcoins, an asset valued at over $3.5 billion in the past eleven weeks​, according to the data shared by Santiment on June 20.

This activity has brought these whales’ collective accumulation supply levels to seven-week highs. Their holdings surged from around 4.51 million Bitcoins in early April to approximately 4.65 million at the time of reporting. This accumulation occurred amidst relative stagnation and a slight decline in Bitcoin prices.

Amid turbulence, growth

In an impressive display of investment acumen and market timing, a significant portion of this accumulation occurred within the last week. Bitcoin holders within the aforementioned range added more than 60,000 Bitcoins to their portfolios, equating to nearly $1.62 billion.

Simultaneously, Bitcoin is trading at $27,464 at the time of writing. Despite a slight monthly loss of 1.14%, the currency has demonstrated resilience with a 2.76% gain in the past seven days and an increase of 3.44% in the past 24 hours​.

In recent weeks, Citadel, Fidelity, Charles Schwab, and Sequoia Capital have backed the launch of a new crypto exchange. Investment management giant Blackrock has filed for a Bitcoin Exchange Traded Fund (ETF), and rumors of Fidelity following suit are making the rounds​, also.

These developments suggest that despite the perception of being in a bear phase, the crypto market might be gearing up for a potentially significant shift. The silent roar of the Bitcoin whales and the bold moves by major financial players may be the precursors to a new chapter in the cryptocurrency saga.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Bitcoin whales amass billions in crypto amid market fluctuations

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月23日 05:31
Next 2023年6月23日 08:07

Related articles

  • Global crypto regulation takes a different turn in Q2 2023

    TL;DR Breakdown While the technologies underlying blockchain, crypto, and tokenization continue to evolve rapidly, the regulatory frameworks of different nations continue to evolve. SEC crypto regulation dubbed Chockpoint 2.0 has caused legitimate digital asset players to move offshore. Investors see BTC ETFs filing by BlackRock and the PayPay stablecoin to be a regulatory turning point for crypto-USA. Crypto market regulators point out that regulatory clarity for digital assets is no longer a luxury but a necessity. Description Just when investors thought they had the crypto rulebook figured out, Q2 2023 swoops in with a plot twist even the most seasoned regulators didn’t see coming. It’s as if crypto regulation entities such as the SEC decided to trade its traditional playbook for a pair of roller skates – unexpected, a bit wobbly, but … Read more Just when investors thought they had the crypto rulebook figured out, Q2 2023 swoops in with a plot twist even the most seasoned regulators didn’t see coming. It’s as if crypto regulation entities such as the SEC decided to trade its traditional playbook for a…

    Article 2023年8月11日

  • FCA digital assets head resigns less than a year after joining

    TL;DR Breakdown Binu Paul, the head of digital assets for the U.K.’s Financial Conduct Authority (FCA), resigns less than a year after joining Paul’s departure comes amid U.K.’s efforts to be the world’s web3 center and establishing clear regulation guidelines for digital assets. Description Binu Paul, the head of digital assets for the U.K.’s Financial Conduct Authority (FCA), has bid the organization goodbye less than a year after being appointed. Paul initially worked as a fintech specialist lead at the Financial Markets Authority in New Zealand. Last year in October, he was appointed to join the UK FCA, whereby … Read more Binu Paul, the head of digital assets for the U.K.’s Financial Conduct Authority (FCA), has bid the organization goodbye less than a year after being appointed. Paul initially worked as a fintech specialist lead at the Financial Markets Authority in New Zealand. Last year in October, he was appointed to join the UK FCA, whereby he took over from Victoria McLoughlin as the head of digital assets. As the head, he led the FCA regulatory activities in the…

    Article 2023年6月28日

  • Bittrex U.S. granted permission to enable customer withdrawals following bankruptcy ruling

    TL;DR Breakdown Bittrex US, the American branch of the cryptocurrency exchange, has received court approval to allow customer withdrawals following its recent bankruptcy filing. The court ruling authorizes customers with undisputed, noncontingent, and liquidated claims to withdraw their cryptocurrency assets and fiat currency from the platform. Ownership disputes and the potential for clawbacks remain unresolved, as the ruling does not clarify the legal ownership of frozen assets or determine the priority of customer claims over those of the U.S. government. Bittrex US, the American branch of the cryptocurrency exchange Bittrex, has been granted permission by a Delaware bankruptcy court to initiate customer withdrawals following its recent bankruptcy filing. The court ruling comes amidst opposition from the U.S. government, which claims that the exchange owes millions of dollars for sanctions violations. Delaware court authorizes Bittrex US to facilitate withdrawals for customers In a recent ruling, Judge Brendan Shannon of the Delaware bankruptcy court authorized Bittrex US and its affiliates to enable customer withdrawals. The ruling allows customers with undisputed, noncontingent, and liquidated claims to withdraw their cryptocurrency assets and fiat currency…

    Article 2023年6月17日

  • Randal Quarles and Vivek Tyagi challenge USD Hegemony with new bank

    Description Under the bold leadership of Randal Quarles, the well-respected banking regulator of the Trump era, and Vivek Tyagi, a former risk officer at the ill-fated Silicon Valley Bank, a unique financial institution christened ‘Currency Reserve’ is set to launch. This innovative venture is striving to address the acute global shortage of tangible dollars, a situation … Read more Under the bold leadership of Randal Quarles, the well-respected banking regulator of the Trump era, and Vivek Tyagi, a former risk officer at the ill-fated Silicon Valley Bank, a unique financial institution christened ‘Currency Reserve’ is set to launch. This innovative venture is striving to address the acute global shortage of tangible dollars, a situation they perceive to be detrimental to global financial markets. Unraveling the fabric of traditional banking In a radical departure from the norm, the bank will not follow traditional banking activities like extending loans or taking deposits. Instead, its primary aim will be to vend and deliver US dollars to local banks situated outside the US. It’s a pioneering endeavor that is poised to reshape the fabric…

    Article 2023年7月1日

  • EtherFi condemns OpenSea for silently suspending EtherFan NFTs

    TL;DR Breakdown EtherFi has published an open letter criticizing OpenSea for suspending EtherFan NFs without notifying them despite co-working on the launch In what EtherFi said was “a templated response,” OpenSea said its actions were directed towards enforcing its terms of service Description EtherFi, a liquid staking protocol, has published an open letter criticizing OpenSea. Last week, the company’s EtherFan collection of NFTs backed by staked ETH was abruptly removed from the NFT marketplace. The two had been working together on the EtherFan debut for weeks to release the collection, with an advertising plan based on cross-promotion and … Read more EtherFi, a liquid staking protocol, has published an open letter criticizing OpenSea. Last week, the company’s EtherFan collection of NFTs backed by staked ETH was abruptly removed from the NFT marketplace. The two had been working together on the EtherFan debut for weeks to release the collection, with an advertising plan based on cross-promotion and sales on the secondary market. Mike Silagadze, the founder of EtherFi, mentioned in the letter that OpenSea appeared positive and interested in the partnership…

    Article 2023年7月20日
TOP