LIVE📣Hey Bitcoin fans! $BTC 🎉 Bitcoin's recent drop to about $56,500 turned into a great chance for big players in the market. 🐳 According to CryptoQuant CEO Ki Young Ju, whales bought a whopping 47,000 BTC - that's over $2.8 billion in today's value - in just the last 24 hours! 🤑 This buying spree suggests a promising future for Bitcoin, says the CEO.
The increase in Bitcoin whale holdings might indicate that big investors or wealthy individuals have more faith in Bitcoin's future. 🚀 Interestingly, most of the whale wallets are custodial, including ETFs, but the recent surge isn't linked to ETFs.
Just a week ago, long-term Bitcoin whales had big unrealized profits, especially with prices above $60,000. 📈 Instead of selling, they kept their positions. This coincided with a rise in Bitcoin exchange inflows, mainly from whales, causing a market-wide downturn.
Now, following the latest whale buying spree, Bitcoin has bounced back by over 6%, surpassing $62,000 on Friday. 🎉 One whale, nicknamed "Mr. 100", bought over 4,100 BTC worth over $242 million at around $58,000 on May 2nd. This was the wallet's first Bitcoin purchase since April 19, just before the 2024 halving.
So, it looks like the whales are betting big on Bitcoin! 🐳💰🚀 Stay tuned for more updates! #BitcoinWhales #CryptoNewsUSA