š Bitcoin whales continue to increase their holdings, and market confidence recovered at the end of September? š
The wallets of Bitcoin whales (large holders with at least 1,000 BTC) have maintained positive net inflows every week for nearly four months. This may mean that they bought more BTC than they sold, and it also shows that these large holders are quite optimistic about the future of Bitcoin.
According to data from IntoTheBlock, the weekly net inflow of whales in June reached a staggering 27K BTC, worth about $1.7 billion. Although this number declined in July and August, it remained stable at 9K BTC in September. The last time these large holders' wallets had negative net flows was in May.
The long-term holding and increase of Bitcoin by whales is often seen as a reflection of the future market value and confidence in this leading crypto asset. However, compared with the beginning of the year, the pace of their increase has slowed down relatively, which may also be seen by some analysts as a potential bearish signal.
IntoTheBlock also pointed out that although the speed of whales' hoarding has slowed down, their BTC reserves seem to have stabilized recently. Currently, long-term holders hold 12.6 million BTC, worth $793.8 billion.
Meanwhile, the number of Bitcoin wallets holding at least 100 BTC hit a 17-month high earlier this month, indicating that big players are increasingly interested in Bitcoin. At press time, Bitcoin is trading at $63,376, up 9% over the past week. $BTC
š¤ Viewpoint:
As Bitcoin whales continue to increase their holdings, the market has shown signs of recovery, which not only boosts investor confidence but also shows a firm belief in the long-term value of cryptocurrencies. However, it is worth noting that market volatility remains, especially in the case of large capital inflows, there may be a risk of airdrop squeezes.
Therefore, investors should remain vigilant, keep an eye on market dynamics, and take appropriate risk management measures to ensure that they can enjoy potential gains while guarding against possible market fluctuations. In short, in the world of cryptocurrency, cautious optimism is always a wise choice.
š¬ How do you interpret Bitcoin whales' accumulation behavior? What is your strategy in the face of a possible airdrop squeeze?
