Bitcoin has shattered its previous record, hitting an all-time high of $107.1K, marking another milestone in its remarkable bull run.
As the price surges, the number of non-empty wallets on the network has risen to 54.62 million, reflecting a 5.2% increase in the past year. This surge in activity signals growing confidence in Bitcoin’s market dominance and long-term potential.
In the last 48 hours alone, Bitcoin whales have made significant moves, purchasing over 70,000 BTC, worth a staggering $7.28 billion. Two major institutional players were responsible for a bulk of this activity:
#Bitcoin whales bought over 70,000 $BTC in the last 48 hours, totaling more than $7.28 billion! pic.twitter.com/lEoVzmZ4i2
— Ali (@ali_charts) December 17, 2024
1. Mt. Gox:
In the past 6 hours, Mt. Gox transferred 1,620 BTC, valued at $172.5 million. This transaction included 1,320 BTC sent to an internal wallet and 300 BTC to B2C2 Group. Since November 1, Mt. Gox has moved a total of 7,500 BTC (~$650 million), likely for creditor payouts. The current holdings of Mt. Gox stand at 37,404 BTC, worth approximately $4.02 billion.
2. Marathon Digital:
Bitcoin mining giant Marathon Digital moved 22,044 BTC, valued at $2.34 billion, over the past 14 hours. These funds were dispersed across 40 new, unidentified wallets, and are currently held there. Marathon’s remaining holdings are estimated at 14,364 BTC ($1.54 billion).
Two institutions moved 23,664 $BTC ($2.51B) after #Bitcoin recorded a new ATH, nearing $108K today!
1/ Mt. Gox transferred 1,620 $BTC ($172.5M) in the past 6 hours.
– This includes 1,320 $BTC to an internal wallet and 300 $BTC to B2C2 Group.– Since Nov 1, Mt. Gox has moved… pic.twitter.com/dsZixK99pn
— Spot On Chain (@spotonchain) December 17, 2024
The momentum doesn’t stop there. On December 16, Bitcoin spot ETFs saw a net inflow of $637 million, continuing a 13-day streak of positive inflows. BlackRock’s Bitcoin ETF, IBIT, led the charge with a remarkable $418 million in a single day.
On December 16, the total net inflow of Bitcoin spot ETFs was US$637 million, and the net inflow continued for 13 days. The Bitcoin spot ETF with the largest net inflow in a single day yesterday was BlackRock ETF IBIT, with a net inflow of US$418 million.https://t.co/59u0BnEqLG pic.twitter.com/5aVgkcg5z4
— Wu Blockchain (@WuBlockchain) December 17, 2024
Bitcoin’s price surge is accompanied by an increase in institutional participation, signaling a robust and thriving ecosystem. The momentum could continue as these key players take their positions in the market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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