Crypto Updates

A Sign Of What’s To Come?

A Sign Of What’s To Come?


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Bitcoin whales have stockpiled $90 billion in BTC since May, a period marked by range-bound market conditions. According to an open disclosure by Axel Adler Jr. of CryptoQuant, investors holding over 1,000 BTC have seen rapid growth in their balances.

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Whale Appetite Grows

Over the past six months, they accumulated about 1.5 million BTC, representing a massive inflow of capital worth approximately $90 billion at an average price of $60,000. However, these tokens came from weaker hands that sold at a loss.

Data shows significant growth among whales, who held only 335,000 BTC in early May when Bitcoin traded between $60,000 and $65,000. While prices remained in that range, whales continued to accumulate, and now hold around 1.9 million BTC, indicating strong short-term confidence among high-net-worth investors.

Netflow Metrics Of Large Holders

Recent data shows that accumulation sprees haven’t cooled off, despite recent price corrections. For example, yesterday, BTC fell below $59K for the first time this month, leading to massive liquidations.

Yet, large holders, who account for 0.1% of the circulating supply, netted +629 BTC yesterday. Two days ago, this figure was even higher, with an influx of 2,480 BTC.

Furthermore, CryptoQuant statistics indicate that Bitcoin’s exchange reserve has fallen from 2.576 million tokens at the start of October to 2.571 million tokens, reflecting ongoing accumulation.

Bitcoin is currently trading at $62,960. Chart: TradingView

Price Prediction And Market Implications

As of this writing, Bitcoin was pegged at $61,690 having lost 1.68% for the week. DMI had +DI standing at 18.3 with -DI placed at 23.3, which were a couple of points above but declining continuously.

BTC price up in the last 24 hours. Source: Coingecko

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It simply means that despite the relentless selling pressures, they are…

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