Bitcoin whales are not backing down from the market The pump has continued to be a source of profit for large investors who have bought every dip. This large group of investors bought the latest dip towards $60,000. BTC The daily amount spent by Americans is staggering, reaching billions of dollar.
Bitcoin Whales Purchase $6.3 Billion in BTC
Thomas Fahrer, the co-founder and CEO of Bitcoin company Apollo revealed in a surprising discovery that Bitcoin whales have been rapidly buying up the tokens amid price drawdown. The daily spending of whales in particular caught the eye of Driver.
Read Related Articles
According to the report, founders of the company have shared that they are not a good fit for this position. smaller investors had been sellingBitcoin whales bought up coins worth billions of dollar. The whales with more than 1000 BTC on the balances they held accumulated 8953 BTC during the 24 hour period. This was worth $6.3 Billion at that time. These whales have now accumulated 12,058 BTC in a single week, or almost $9 billion.
Whales accumulate $6.3 Billion in worth #Bitcoin Yesterday.
C’mon, now, be honest. Who’s selling? pic.twitter.com/3dLD2BI89L
— Thomas | heyapollo.com (@thomas_fahrer) May 22, 2024
The trend of token sales by smaller investors has led to the accumulation. As an example, the screenshot of Driver’s shows that Sharks who are investors with between 100 and 1,000 BTC held on their accounts sold 6,746 BTC within a day. This is worth approximately $5 billion.
Investors holding between 1-10 BTC sold 1,074 BTC within the same time frame. Shrimps – investors holding 0-1 BTC, were also caught selling, with a total of 591 BTC sold. Fish investors (those holding between 10-100 BTC) sold just 95 BTC within a one-day period.
This flow of investors shows how important it is. BTC is flowing out from smaller investors toward larger investorsThis is a bullish sign for the price. On the weekly chart, Shrimps and Crabs both sold 2 079 BTC. Fish also sold 1 155 BTC. Sharks purchased 60 BTC. Bitcoin whales, however, bought the most with 12,085 BTC.
It’s Time to Buy
Bitcoin Whales seem to be following the advice of a number crypto analysts who have urged them to buy. Ali Martinez was one analyst who has been vocal in urging people to purchase Bitcoin. She shared a formation that she found on the Bitcoin charts.
Read Related Articles
Martinez noted that the TD Sequential which predicted the future had been incorrect. Bitcoin price movementThis analyst had given a signal to buy. This analyst’s buy signal occurred at a level of $69,500. Since then, BTC has risen above $70,00, proving that the signal was accurate.
The TD Sequential correctly predicted #Bitcoin The price movement on the chart for one hour. The price action on the one-hour chart is now a strong buy signal. $BTC The rebound will be great! pic.twitter.com/6ImRkREPVW
— Ali (@ali_charts) May 21, 2024
The current Bitcoin price could reach a record high of $74,000 if the TD Sequential continues to hold, as it did last time. For now, Bitcoin bulls are fighting to maintain its position above $70,000The last week saw a growth of 12.22%.
Featured Image created using Dall.E and chart from Tradingview.com
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com