Unidentified Whales Buy 240K-420K Bitcoins This Year: CryptoQuant CEO
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Ki Young Ju, crypto analyst, CEO and founder of the CryptoQuant on-chain data CryptoQuant, has taken to the X social media platform (widely known as Twitter in the past) to comment on recent whale transactions spotted recently, as whales have been buying tons of Bitcoin. At the time of this writing, Bitcoin is changing hands at $95,772 after dropping by 3.6% over the last 24 hours. It was a sharp reversal after the Christmas rally witnessed on Dec. 25, when Bitcoin surged to $99,000 briefly. Bitcoin will hardly drop lower than 30%, Ju believes Ju tweeted that the attitude of the crypto community toward whales accumulating large amounts of Bitcoin has become cooler now that these regular purchases have stopped having any significance; it “has become common that it’s now daily chatter,” unlike 2-3 years ago, when they would send shockwaves through the market and make breaking news. He believes that this change in sentiment reflects the fact that retail investors are keeping away from Bitcoin and have left market domination to whales. The narrative of whale accumulation on #Bitcoin has become so common that it’s now daily chatter. Just 2–3 years ago, news of whales accumulating would send shockwaves through the market. Today, it’s no longer breaking news—it’s just expected, routine information. This shift… pic.twitter.com/7zftwtZh8S —…
Filed under: News - @ December 26, 2024 12:20 pm