Bitcoin Rebounds As Whale Accumulation And Government Moves Boost Market Activity
The post Bitcoin Rebounds As Whale Accumulation And Government Moves Boost Market Activity appeared on BitcoinEthereumNews.com.
Bitcoin experienced a significant decline in new addresses at the beginning of June, reaching multi-year lows. However, this trend has reversed, with daily new addresses increasing by 35% since that low point, signaling renewed interest in the cryptocurrency. Bitcoin saw a significant dip in new addresses at the beginning of June, hitting multi-year lows. However, the trend has reversed with daily new addresses now up by 35% since that low point. pic.twitter.com/CTCjzHE3Pt — IntoTheBlock (@intotheblock) July 30, 2024 In the past 24 hours, four major Bitcoin whales have accumulated a total of 5,900 BTC, valued at $397 million, from centralized exchanges (CEX). Notably, whale “12QVs” withdrew 4,500 BTC, worth $303 million, from Binance at approximately $67,298 per BTC. Of this amount, 3,500 BTC, valued at $233 million, were withdrawn following a significant price drop in Bitcoin. Additionally, three other whales, likely acting as a single entity, withdrew 1,400 BTC, valued at $94 million, from Bitfinex at around $67,185 per BTC. Since June 12, this entity has withdrawn a total of 3,910 BTC from Bitfinex at an average price of $65,764, resulting in an unrealized profit of $4.59 million, a gain of 1.79%. Four whales accumulated 5,900 $BTC ($397M) from CEX in the past 24 hours! 1️⃣ Whale “12QVs” withdrew 4,500 $BTC ($303M) from #Binance at ~$67,298. • Among these tokens, 3,500 $BTC ($233M) were withdrawn after the #Bitcoin price plunged. 2️⃣ Three whales (likely one entity)… pic.twitter.com/YCWNM5GI4z — Spot On Chain (@spotonchain) July 30, 2024 The US Government Moves 29.8K Bitcoin To A New Address In a notable move, the US government transferred 29.8K BTC, worth approximately $2 billion, to a new address 24 hours ago. This address is suspected to be linked to Coinbase, following the recent announcement that Coinbase will provide custody services for the US government. This…
Filed under: News - @ July 31, 2024 7:54 am