🎁🎁Institutional Bitcoin Whales Make Second Biggest Purchase of the Year: Different This Time! 🎁🎁

Institutional Bitcoin (BTC) whales made their second-largest purchase by 2024 despite low ETF inflows and price movements.

According to data cited by the analyst of on-chain analysis platform CryptoQuant, institutional institutions purchased 101,600 BTC last week, representing the second largest purchase of 2024.

Analyst, Germany and Mt. He stated that many novice investors withdrew from the market due to the declines associated with Gox, while big whales continued to collect Bitcoin.

There may be a different situation this time. He stated that a similar purchase was seen in March, but the purchases in those days were mostly made for spot Bitcoin ETFs. He stated that in the current period, whales have taken action to buy the bottom of the market rather than ETFs:

"About 101,600 BTC of accumulation was recorded last week. However, what is interesting is that these purchases occurred at a time when ETFs were receiving low inflows and prices were falling. This indicates that, unlike the demand in March, the current institutional accumulation is a true 'buying the bottom' process among the big players." pointing out."

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