Bitcoin Whales Accumulate $436 Million in BTC in One Day Amid Intense FUD: ITB

According to IntoTheBlock’s latest analysis, Bitcoin whales are quietly scooping up BTC.

There has been a shift in Bitcoin hoarding patterns with an increase in net inflows to the largest wallets despite the prevailing market sentiment of FUD.

Bitcoin whales increase stakes by 7,130 BTC

The data revealed that holders in control of at least 0.1% of the total Bitcoin supply increased their holdings by 7,130 BTC in a single day, with the stockpile amounting to around $436 million.

ITB data shows that Bitcoin Large Holders Netflow fluctuated around the zero mark in recent weeks, indicating periods of both net deposits and withdrawals from these wallets. In particular, there was a significant increase in net inflows on June 24, as the price of bitcoin briefly fell below $60,000.

Major holders managed to capitalize on this drop by adding 7,130 BTC to their wallets, thus recording their highest net inflows since late May.

This rallying trend amid the market decline highlighted the confidence of major investors in bitcoin’s price trajectory, which is currently under enormous pressure.

The local Bitcoin fund

While concerns about further losses persist, the data also suggest signs of a local fund have emerged. According to CryptoQuant, these Bitcoin signs formed after a 15% correction over the past three weeks.

Monday’s correction was even steeper, further supporting this possibility as an on-chain intelligence platform. In the futures market, for example, open interest declined by approximately $3 billion, primarily due to long liquidations. In addition, funding rates for perpetual contracts have approached zero, suggesting a balanced market with healthier and less bullish pricing structures.

Meanwhile, for short-term holders, the price of bitcoin has fallen below the realized price of $62.6 thousand, placing this group in a slightly negative average return. Historically, this level has served as support during local corrections within broader uptrends.

There are several factors at play that influence BTC price action. Be it the US macroeconomic data, especially due to the uncertainties surrounding the US monetary policy, which affect the risk appetite of the investors. Upcoming data releases, including GDP and initial jobless claims on Thursday and inflation (PCE) data on Friday, are expected to weigh on market sentiment in the near term.

“However, the current structure suggests a possible local fund.”

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