bitcoin
Bitcoin (BTC) $ 98,643.43 0.42%
ethereum
Ethereum (ETH) $ 3,376.96 0.09%
tether
Tether (USDT) $ 1.00 0.05%
solana
Solana (SOL) $ 258.55 0.65%
bnb
BNB (BNB) $ 672.84 6.88%
xrp
XRP (XRP) $ 1.56 12.45%
dogecoin
Dogecoin (DOGE) $ 0.458936 16.62%
cardano
Cardano (ADA) $ 1.10 26.89%
usd-coin
USDC (USDC) $ 1.00 0.00%
staked-ether
Lido Staked Ether (STETH) $ 3,374.97 0.16%
Blog

Large Bitcoin Holders Scoop Up 20,000 BTC, Setting New Monthly Accumulation Record: Data

The price of Bitcoin experienced a decline following an impressive surge to $45,000 earlier this month. During the market lull, Bitcoin’s loyal supporters continued to stack up tokens that may have aided in a mild recovery leading to the price stabilizing above $42,500.

According to the data compiled by Intotheblock, large Bitcoin holders accumulated approximately 20k BTC on December 16th, the highest daily amount in over a month.

  • The decline in the price of BTC coincided with the announcement that the United States Securities and Exchange Commission had rejected a proposal from the major exchange, Coinbase, to revise cryptocurrency regulations.
  • However, the accumulation trend sparks optimism despite Bitcoin’s failure to reclaim its yearly high.
  • These entities holding Bitcoin for the long term appear to be maintaining their positions without engaging in active trading or utilizing their BTC as collateral.
  • Whales possess substantial amounts of digital assets. Due to the significant influence their buying and selling activities can have on markets, crypto watchers closely monitor their behavior to predict potential market shifts.
  • While long-term holders have depicted a consistent accumulation trend since March 2023, the same cannot be said for short-term holders.
  • The latter cohort resorted to capitalizing on the soaring prices that triggered the third sharpest selling-off of the year.
  • Even as Bitcoin witnessed an increasing level of relevance and legitimacy as a global macro asset, retail traders seem to be staying on the sidelines. This observation is supported by Google search trends, which revealed a subdued level of retail enthusiasm in the crypto market.

The post Large Bitcoin Holders Scoop Up 20,000 BTC, Setting New Monthly Accumulation Record: Data appeared first on CryptoPotato.

Related Posts
Two-reasons-bitcoin-investors-buy-into-strength
Cryptocurrency News Feeds

Two Reasons Bitcoin Investors Buy Into Strength

In a recent interview with Bloomberg Television’s Katie Greifeld, Saylor said, “I’m going to be buying the top forever. Bitcoin is the exit strategy. It is the strongest asset.” As Bitcoin’s price soared around the $65K mark and near its previous record high, it may pull back some to correct. But most analysts like Galaxy
10-million-myth-tokens-airdropped-to-over-450,000-dot-holders
Cryptocurrency News Feeds

10 Million MYTH Tokens Airdropped to over 450,000 DOT Holders

[PRESS RELEASE – Zug, Switzerland, October 1st, 2024] The MYTH Airdrop Distributes Rewards to Polkadot Users in a Large and Transparent Airdrop Event Yesterday, the Polkadot DAO and Community commenced distributing an airdrop of 10 million MYTH tokens to over 450,000 Polkadot (DOT) wallets as an inaugural, collaborative action between the Mythos and Polkadot ecosystems.
The-recent-wave-of-mysterious-deaths-in-crypto
Cryptocurrency News Feeds

The Recent Wave of Mysterious Deaths in Crypto

Tiantian Kullander – Co-Founder of the crypto firm Amber Group – unexpectedly passed away in his sleep at the age of 30. The bear market negatively affected his firm, which had to dismiss around 10% of its staff earlier this year. In addition, Amber Group recently revealed it had been an “active trading participant” on…
Loading data ...
Comparison
View chart compare
View table compare
Back To Top