Whale Hoard $90 Million Bitcoin: Sign of Things To Come?

Bitcoin whales have accumulated $90 billion in BTC since May, when markets were rangebound. CryptoQuant CEO Axel Adler Jr. said that investors with above 1,000 BTC have witnessed fast increase.

In the previous six months, they acquired 1.5 million BTC, a gigantic $90 billion influx at $60,000. These tokens were sold at a loss by weaker hands.


Whales controlled just 335,000 BTC in early May when Bitcoin traded between $60,000 and $65,000, but data suggests tremendous increase. While prices stayed in that level, whales accumulated about 1.9 million BTC, demonstrating significant short-term confidence among high-net-worth investors.



Large-holder netflow metrics

Recent data reveals that accumulating sprees continue despite price corrections. Yesterday, BTC dipped below $59K for the first time this month, causing large liquidations.


Bitcoin's exchange reserve has dropped from 2.576 million tokens at the start of October to 2.571 million, suggesting continued accumulation, according to CryptoQuant.

Bitcoin traded at $61,690, down 1.68% for the week. DMI's +DI was 18.3 and -DI 23.3, two points above but falling.


It suggests they are weak despite constant marketing pushes. Williams %R is neutral at -40.74. Bitcoin may stay in this range unless major buying or selling pressure arises.

Expert analyst Peter Brandt predicts that Bitcoins will hit an all-time high of $150,000 this cycle, but if they can't break out of the present range, they'll plummet 75%.


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