Since the beginning of 2024, large Bitcoin holders have accumulated an additional 266,000 BTC.
Based on Santimentâs analysis, the value of Bitcoin is approximately $17.5 billion. Notably, entities holding between 1,000 and 10,000 Bitcoins obtained 1.24% of the total Bitcoin supply (consisting of 21 million units) during the specified timeframe.
đł #Bitcoinâs key whale tier holding 1K-10K $BTC are supporting this rise, and have now accumulated 266K more $BTC since the start of 2024. This translates to an accumulation of 1.24% of the entire supply. The crowd is also showing a high degree of #FOMO. â Santiment (@santimentfeed) April 24, 2024
According to Santiment, institutional investors play a role in stabilizing the cryptocurrency industryâs fluctuations. Furthermore, these key market participants boosted Bitcoinâs price increase prior to the halving event. Experts predict that the halving will significantly influence Bitcoinâs worth following this transition.
Several traders harbor apprehensions about being left behind (FOMO), while according to Santiment, numerous users hold the belief that Bitcoinâs price will rebound to hit the $70,000 threshold again.
According to Ki Young Ju, the CEO of CryptoQuant, the amount of new large-scale Bitcoin investors is nearly double that of the earlier, bigger investors.
Experts have created a new group for whale wallets holding more than 1,000 Bitcoins that are not linked to CEX and mining operations. This new classification also covers coin owners whose Bitcoins are less than 155 days old. Those with older coins fall into a different category.
The new whalesâ initial investment in #Bitcoin is almost twice the old whalesâ cumulative total.
â Ki Young Ju (@ki_young_ju) April 23, 2024
Newer Bitcoin whales emerged in the market as a result of two significant events: the introduction of spot crypto ETFs in the US markets and the Bitcoin halving that occurred in April, reducing the rate of new Bitcoin supply.
Read More
- Cookie Run Kingdom Town Square Vault password
- Maiden Academy tier list
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Wizardry Variants Daphne tier list and a reroll guide
- Tap Force tier list of all characters that you can pick
- Chhaava OTT release: Where is Vicky Kaushal and Rashmika Mandannaâs film expected to stream after theatrical run? Find out
- How To Get Raw Meat In Monster Hunter Wilds
- Shakira Hospitalized, Cancels Peru Show Due to âAbdominal Issueâ
- BONE PREDICTION. BONE cryptocurrency
- MSNBCâs Rebecca Kutler Takes Over as President
2024-04-24 19:36