Bitcoin Whales Accumulate 140,000 BTC in a Buying Spree
Bitcoin whales, the large investors with significant capital supply, have been on a massive accumulation spree since the approval of the Bitcoin spot ETFs in the United States. According to crypto analyst Ali, these whales have acquired 140,000 BTC over the past three weeks, totaling $6.16 billion. This surge in whale activity indicates their confidence in the long-term prospects of Bitcoin, despite recent market volatility.
Bitcoin ETF Approval Signifies Industry Milestone
The approval of Bitcoin ETFs in the United States has been widely regarded as a milestone for the crypto industry. These ETFs allow investors to gain exposure to Bitcoin without holding the actual asset, signaling the growing acceptance of Bitcoin as an investment asset. The first set of Bitcoin ETFs went live in the US on January 11, after a decade-long battle for approval. This development has attracted the attention of Bitcoin whales, who now see the ETFs as an opportunity to expand their holdings.
Whales Take Advantage of Price Dips to Accumulate More Bitcoins
The increase in whale holdings suggests that these investors are taking advantage of price dips to accumulate more Bitcoins at lower prices. By buying during market downturns, whales anticipate a further rally in the future. Despite recent volatility, the whales’ confidence in Bitcoin’s long-term prospects is unwavering, as evidenced by their continuous accumulation over the past few weeks.
Bitcoin Price Surpasses $48,000 Amidst ETF Inflows
Bitcoin has surged past $48,000 for the first time in a month, driven by steady inflows from U.S. exchange-traded funds and a rising risk appetite across financial markets. Net inflows into Bitcoin ETFs, including strong performance from new issuers and offsetting Grayscale outflows, have contributed to the upward momentum. On Friday alone, spot Bitcoin ETFs saw inflows of $541.5 million, with a net inflow of 11,388 BTC, according to BitMEX Research.
Bitcoin Continues Its Winning Streak with 7th Consecutive Day of Gains
Bitcoin’s upward trajectory shows no signs of slowing down, as it closes in on its seventh consecutive day of gains. At the time of writing, BTC is up by 2.10% over the past 24 hours, reaching $48,104. This week alone, the crypto asset has surged by 13%, further reinforcing the confidence of Bitcoin whales and other investors in its long-term potential.
Bollinger Bands Creator Predicts Bitcoin’s Price Trend
Renowned trader and creator of Bollinger Bands, John Bollinger, predicts that the Bitcoin price trend will continue on an upward path. He states, “The expectation should now be for a walk up the upper band until a divergence is detected.” Bollinger’s analysis further adds to the positive sentiment surrounding Bitcoin’s ongoing price rally, with traders and investors eagerly anticipating further gains.
Analyst comment
1. Positive news: Bitcoin Whales Accumulate 140,000 BTC in a Buying Spree
Short analysis: The market is likely to see increased bullish sentiment and potential price appreciation as Bitcoin whales continue to accumulate significant amounts of BTC, indicating their confidence in the long-term prospects of Bitcoin.
2. Positive news: Bitcoin ETF Approval Signifies Industry Milestone
Short analysis: The market is likely to experience increased adoption and demand for Bitcoin as the approval of Bitcoin ETFs in the US opens up new investment opportunities, attracting more investors, including Bitcoin whales.
3. Positive news: Whales Take Advantage of Price Dips to Accumulate More Bitcoins
Short analysis: The market is likely to experience increased buying pressure during market downturns as whales take advantage of price dips, anticipating a future rally. This indicates their unwavering confidence in Bitcoin’s long-term potential.
4. Positive news: Bitcoin Price Surpasses $48,000 Amidst ETF Inflows
Short analysis: The market is expected to continue its upward momentum as Bitcoin’s price surpasses $48,000, driven by steady inflows from ETFs and growing risk appetite in financial markets.
5. Positive news: Bitcoin Continues Its Winning Streak with 7th Consecutive Day of Gains
Short analysis: The market is likely to see continued bullish sentiment and potential price growth as Bitcoin shows no signs of slowing down, with consecutive days of gains boosting confidence among whales and other investors.
6. Positive news: Bollinger Bands Creator Predicts Bitcoin’s Price Trend
Short analysis: The market is expected to witness increased optimism as John Bollinger, the creator of Bollinger Bands, predicts a continued upward trend for Bitcoin’s price. Traders and investors are anticipating further gains based on this analysis.
