{"id":571420,"date":"2024-01-25T16:30:22","date_gmt":"2024-01-25T16:30:22","guid":{"rendered":"https:\/\/www.wncen.com\/?p=571420"},"modified":"2024-06-11T08:14:41","modified_gmt":"2024-06-11T08:14:41","slug":"bitcoin-whales-buying-spree","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/bitcoin-whales-buying-spree\/","title":{"rendered":"Bitcoin Whales Go On Buying Spree As Price Dips, Here\u2019s How Much They Bought"},"content":{"rendered":"

A recent development shows that <\/span>Bitcoin whales<\/span><\/a> have refused to be deterred by the <\/span>recent price action<\/span><\/a> of the <\/span>flagship cryptocurrency<\/span><\/a>. Instead, they have chosen to see it as an opportunity to accumulate more BTC. This move could turn out to be really profitable based on a recent analysis by <\/span>crypto analyst Ali Martinez<\/span><\/a>.\u00a0<\/span><\/p>\n

An Increase In Bitcoin Whales<\/h2>\n

Ali Martinez stated in an X (formerly Twitter) <\/span>post<\/span><\/a> that 46 new entities now hold 1,000 BTC or more, which represents a 3% increase in just two weeks. <\/span>Data<\/span><\/a> from BitInfoCharts further shows that there are now 1,898 wallet addresses holding this amount of Bitcoin or more. This is significant as it suggests that more people have become bullish on the crypto token despite the <\/span>recent market correction<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally<\/a><\/div>\n

These whales no doubt have enough reason to be <\/span>bullish on BTC<\/span><\/a>, as Martinez\u2019s recent Bitcoin analysis suggests that the tide could turn soon enough. The analyst highlighted in an <\/span>X post<\/span><\/a> how, historically, price corrections for Bitcoin have \u201cconsistently been followed by further upside gains\u201d in bull markets.\u00a0<\/span><\/p>\n

As such, he noted that dips like this might offer \u201cstrategic buying opportunities for those looking to capitalize on Bitcoin\u2019s potential growth.\u201d<\/span><\/p>\n

Meanwhile, the <\/span>Spot Bitcoin ETF issuers<\/span><\/a> have helped contribute to the increase in this figure, considering they have had to accumulate BTC for their respective funds. <\/span>Data<\/span><\/a> from on-chain analytics firm Arkham Intelligence shows that the world\u2019s asset manager, <\/span>BlackRock<\/span><\/a>, currently holds over 44,000 BTC for their Bitcoin ETF.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price above $40,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n

BTC Still Has More Bullish Momentum\u00a0<\/span><\/h2>\n

While many in the crypto community continue to speculate whether the bull market is back, there is reason to believe that <\/span>BTC’s bullish momentum<\/span><\/a> is not fading anytime soon. In his most recent <\/span>X post<\/span><\/a>, Ali shared how the next market peak could land around 2025 if Bitcoin is to mirror past bull runs. Going by this projection, Bitcoin is said to have 600 days of bullish momentum still ahead.\u00a0<\/span><\/p>\n

\n
Related Reading: Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move<\/a><\/div>\n<\/div>\n

In the meantime, Bitcoin bulls will have to overcome the <\/span>selling pressure<\/span><\/a> from Bitcoin whales like <\/span>Grayscale<\/span><\/a>. The asset manager had to offload a significant portion of its BTC holdings due to the amount of outflows it keeps recording from its Spot Bitcoin ETF. GBTC investors like FTX are reported to be taking profits, considering that the fund had traded at a <\/span>significant discount to Bitcoin\u2019s price<\/span><\/a> before now.\u00a0\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at around $39,000, up in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

Featured image from Milk Road, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A recent development shows that Bitcoin whales have refused to be deterred by the recent price action of the flagship cryptocurrency. Instead, they have chosen to see it as an opportunity to accumulate more BTC. This move could turn out to be really profitable based on a recent analysis by crypto analyst Ali Martinez.\u00a0 An Increase In Bitcoin Whales Ali Martinez stated in an X (formerly Twitter) post that 46 new entities now hold 1,000 BTC or more, which represents a 3% increase in just two weeks. Data from BitInfoCharts further shows that there are now 1,898 wallet addresses holding this amount of Bitcoin or more. This is significant as it suggests that more people have become bullish on the crypto token despite the recent market correction.\u00a0 Related Reading: Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally These whales no doubt have enough reason to be bullish on BTC, as Martinez\u2019s recent Bitcoin analysis suggests that the tide could turn soon enough. The analyst highlighted in an X post how, historically, price corrections for Bitcoin have \u201cconsistently been followed by further upside gains\u201d in bull markets.\u00a0 As such, he noted that dips like this might offer \u201cstrategic buying opportunities for those looking to capitalize on Bitcoin\u2019s potential growth.\u201d Meanwhile, the Spot Bitcoin ETF issuers have helped contribute to the increase in this figure, considering they have had to accumulate BTC for their respective funds. Data from on-chain analytics firm Arkham Intelligence shows that the world\u2019s asset manager, BlackRock, currently holds over 44,000 BTC for their Bitcoin ETF.\u00a0 BTC price above $40,000 | Source: BTCUSD on Tradingview.com BTC Still Has More Bullish Momentum\u00a0 While many in the crypto community continue to speculate whether the bull market is back, there is reason to believe that BTC’s bullish momentum is not fading anytime soon. In his most recent X post, Ali shared how the next market peak could land around 2025 if Bitcoin is to mirror past bull runs. Going by this projection, Bitcoin is said to have 600 days of bullish momentum still ahead.\u00a0 Related Reading: Is XRP Price At $20 Possible? Crypto Analyst Predicts Stunning Move In the meantime, Bitcoin bulls will have to overcome the selling pressure from Bitcoin whales like Grayscale. The asset manager had to offload a significant portion of its BTC holdings due to the amount of outflows it keeps recording from its Spot Bitcoin ETF. GBTC investors like FTX are reported to be taking profits, considering that the fund had traded at a significant discount to Bitcoin\u2019s price before now.\u00a0\u00a0 At the time of writing, Bitcoin is trading at around $39,000, up in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from Milk Road, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":571435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,435,656,679,19064,1119,89185,1122,1144,78790,14781,91338],"class_list":["post-571420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-adoption","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-whales","tag-whales-news"],"acf":[],"yoast_head":"\nBitcoin Whales Go On Buying Spree As Price Dips, Here\u2019s How Much They Bought<\/title>\n<meta name=\"description\" content=\"A recent development shows that Bitcoin whales have refused to be deterred by the recent price action of the flagship cryptocurrency.\" \/>\n<meta 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Go On Buying Spree As Price Dips, Here\u2019s How Much They Bought","url":"http:\/\/www.wncen.com\/news\/bitcoin-whales-buying-spree\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/bitcoin-whales-buying-spree\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-whales-Small.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-whales-Small.jpeg?fit=320%2C183"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin adoption","bitcoin news","bitcoin price","bitcoin whales","btc","btc news","btc price","btcusd","btcusdt","whales","whales news"],"dateCreated":"2024-01-25T16:30:22Z","datePublished":"2024-01-25T16:30:22Z","dateModified":"2024-06-11T08:14:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Go On Buying Spree As Price Dips, Here\\u2019s How Much They Bought\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin-whales-buying-spree\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/bitcoin-whales-buying-spree\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin-whales-Small.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin-whales-Small.jpeg?fit=320%2C183\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin adoption\",\"bitcoin news\",\"bitcoin price\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"whales\",\"whales news\"],\"dateCreated\":\"2024-01-25T16:30:22Z\",\"datePublished\":\"2024-01-25T16:30:22Z\",\"dateModified\":\"2024-06-11T08:14:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-whales-Small.jpeg?fit=320%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/571420"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=571420"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/571420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/571435"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=571420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=571420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=571420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}