60 new Bitcoin whales are loading up: What secrets do they know?
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Whales have started buying more Bitcoin, spending tens of millions on acquisitions over the past few months. Market sentiment shows these whales might be holding the asset for the long term. Bitcoin [BTC] has maintained a steady threshold in the market, moving within a tight range and recording no significant gain—only up to 1% in the past month. New market insight suggests that sentiment could soon shift, with Bitcoin potentially rising in value as whales continue to accumulate the asset. Whale interest in Bitcoin rises Whales, known to control a significant portion of any asset, have shown renewed interest in Bitcoin over the past few months. Since early March, analysis shows new whales have entered the market and started acquiring Bitcoin. So far, 60 of these investors have each purchased no less than 1,000 Bitcoin, totaling approximately $85 million. Source: Glassnode Naturally, this influx came while BTC traded well below its all-time high, hinting at undervaluation in the eyes of large investors. This increase in whale participation is also noteworthy given the overall decline in crypto market liquidity. In just the past two weeks, capital inflow has dropped from $8.2 billion to $2.38 billion. With shrinking funds entering the market, assets receiving liquidity become more interesting, as they are likely to outperform others. Whale activity in BTC confirms it may continue to lead market gains. Institutions and key whales are making moves Having said that, it wasn’t just whales buying the dip. AMBCrypto analysis identified one whale taking advantage of Bitcoin’s recent price decline to accumulate a significant amount of the asset. According to insights from Arkham Intelligence, a whale identified as “Abraxas Capital Mgmt” has been actively acquiring Bitcoin. Since the beginning of April, this whale has grown its Bitcoin holdings from $2.8 million to $253 million, confirming strong…
Filed under: News - @ April 20, 2025 5:14 pm