It’s only been a month into 2024, and Bitcoin has already experienced a whirlwind of activity. These events range from the SEC’s approval of spot Bitcoin ETFs to the cryptocurrency’s price underperforming with a decrease over the past month and selloffs from the Grayscale BTC Trust. Amidst all these, on-chain data has revealed an interesting sentiment of strategic accumulation among whales of the largest cryptocurrency. According to information provided by crypto analytics firm IntoTheBlock, Bitcoin whales have added over 76,000 BTC worth approximately $3 billion to their holdings since the beginning of the year. Bitcoin whales have increased their $BTC holdings by ~$3B (76,000 BTC) sine the start of this year. pic.twitter.com/0hi3Q7WXEo — IntoTheBlock (@intotheblock) January 27, 2024 Bitcoin Whales Increase Holdings By $3 Billion Despite Market Downturn The price of Bitcoin climbed shortly after the approval of spot ETFs in the US to reach a 20-month high of $48,600. However, in a surprising turn of events, the crypto has suffered a price dip, reaching as low as $38,880 during the week. Related Reading: Helium (HNT) Heats Up: 21% Jum ..
Support the originator by clicking the read the rest link below.
