Ah, the curious case of wallet addresses, those digital vaults of fortune, now teetering on the precipice of all-time highs, as revealed by none other than the oracle of Binance.
In a world where the common man, with his humble $100, finds himself amidst a burgeoning class of Bitcoin (BTC) holders, one cannot help but marvel at this sudden resurgence of hope and optimism. It appears that the retail masses, like moths to a flame, are drawn to the shimmering allure of BTC, while the institutional titans, emboldened by the advent of BTC ETFs, have doubled their holdings from a mere 650,000 BTC to a staggering 1,250,000 BTC throughout the year of our Lord, 2024. How delightful! 🎉
On-chain data, that ever-reliable confidant, reveals a swelling tide of wallet addresses clutching at least $100 in Bitcoin, inching ever closer to the heights of yore.
This phenomenon, dear reader, is a testament to the renewed fervor as more souls venture into this chaotic market.
Read more 👉
— Binance (@binance) January 26, 2025
As the retail presence expands, one must ponder the peculiar behavior of BTC holders, with over half of them remaining steadfast, unmoved for more than two years. A curious breed, indeed! 🤔
Market metrics, those fickle friends, lend credence to this retail momentum, revealing that a staggering 86% of BTC is currently basking in the glow of profit, suggesting that perhaps, just perhaps, the universe is smiling upon us. Accumulation rates have surged, with CryptoQuant data indicating a monthly expansion of 228,000 BTC. Yet, the true marvel lies in the accumulator addresses, which have reached record acquisition rates of 495,000 BTC monthly. What a time to be alive!
But lo! CryptoQuant has also unveiled a rather disheartening truth: large investors, those behemoths of finance, have been the architects of Bitcoin’s price ascension since the US election. Their holdings have swelled from 16.2 million to 16.4 million BTC, while the small investors, bless their hearts, have seen their meager stash dwindle from 1.75 million to 1.69 million. Oh, the irony! 😂
Indeed, it is the large investors who have been steering the Bitcoin ship since the US election.
Their holdings have grown from 16.2M to 16.4M BTC.
Meanwhile, our small investors have seen their fortunes shrink from 1.75M to 1.69M.
— CryptoQuant.com (@cryptoquant_com) January 25, 2025
In this grand theater of finance, the institutional sector has been irrevocably altered by the launch of ETFs, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the charge. This ETF has amassed a jaw-dropping $50 billion in assets within a mere 11 months, marking a triumph unparalleled in the annals of ETF history. Bravo! 👏
Yet, amidst this whirlwind of activity, technical indicators whisper a cautionary tale: the MVRV Z-Score remains below levels typically associated with market tops. The Crypto Fear and Greed Index, however, maintains a robust bullish sentiment, with a 30-day simple moving average resting comfortably at 75%, as per the ever-watchful Binance report.
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2025-01-27 10:15