Bitcoin Sharks and Whales Accumulate, Signaling Potential Bull Market
The post Bitcoin Sharks and Whales Accumulate, Signaling Potential Bull Market appeared on BitcoinEthereumNews.com.
In the last five months, Bitcoin wallets holding at least 10 BTC have seen a significant increase in their holdings. According to analysis from Santimentfeed, these wallets have collectively acquired an additional 154,560 BTC. Historically, such accumulation by large BTC holders often precedes a bullish market phase, as it indicates growing confidence among significant investors. Bitcoin sharks and whales are increasing! -> According to @santimentfeed analysis, #Bitcoin wallets containing at least 10 $BTC have bought 154,560 more $BTC within the last 5 months-> Typically, when large BTC holders accumulate more, it tends to precede a bullish market phase pic.twitter.com/CFwlB02ywa — CryptoPotato Official (@Crypto_Potato) May 30, 2024 This trend aligns with recent data showing a substantial shift in Bitcoin holdings, reflecting increased interest from institutional investors. Notably, BlackRock has surpassed Grayscale in the amount of BTC held. As per their official reports, BlackRock now holds 289,035 BTC (valued at approximately $19.5 billion), compared to Grayscale’s 287,443 BTC ($19.3 billion). This shift underscores the growing institutional adoption of Bitcoin, suggesting a potential bullish outlook. According to the official website, the amount of $BTC held by #Blackrock has exceeded that of #Grayscale!#Blackrock holds 289,035 $BTC($19.5B) and #Grayscale holds 287,443 $BTC($19.3B).https://t.co/kqNUqHAL3Phttps://t.co/JA8bW5rex3 pic.twitter.com/JobnhOnEg3 — Lookonchain (@lookonchain) May 30, 2024 Bitcoin ETF Net Inflow Hits $49 Million Addition On May 30th Furthermore, the Bitcoin ETF market has shown positive net inflows, with a cumulative $49 million added on May 30, 2024. This marks 13 consecutive trading days of positive inflows, the longest streak since February 20. However, individual fund performances have varied. ARK BTC ETF (ARKB) experienced its largest single-day outflow since inception, while BlackRock’s IBIT saw its single-day inflow drop to $1.6 million. Meanwhile, Grayscale’s GBTC had zero flow following two days of significant outflows. 🚨 $BTC #ETF Net Inflow May 30, 2024: +$49M! •…
Filed under: News - @ May 31, 2024 11:16 pm