These Whales Ignited the 2021 Bull Rally in Bitcoin: They're on the Move Again!

CryptoQuant CEO Ki Young Ju drew attention to similar movements of Bitcoin whales in 2024 and 2020 and shared his bullish expectation.

Ki Young Ju, CEO of on-chain data and analytics platform CryptoQuant, said in a post on Twitter on May 31 that the weather in Bitcoin is the same as in 2020.

Young Ju said that in 2020, Bitcoin's high on-chain activities were around 10 thousand dollars, and it later turned out that it rose to those levels with agreements from over-the-counter markets.

Comparing it to the current picture, the famous CEO made the following statements:

Now, despite the low price volatility, on-chain activity remains high, with $1 billion being added daily to new whale wallets, likely being stashed away in custody.

The fact that there was no increase in the price despite Bitcoin savings and ETF approval was one of the topics talked about on social media. While the data provided by the CEO of CryptoQuant was a little refreshing, it was among the points that came to mind that the altcoin rally that came in 2021 could come in early 2025.

In line with the accumulations in 2020, Bitcoin had a big boom in 2021 and reached the highest level of all time at that time, reaching up to 69 thousand dollars.