Bitcoin and Ethereum Whales’ Recent Moves

According to Lookonchain analytics firm, a major Bitcoin whale accumulated $16 million worth of Bitcoin after market declines. This was recorded as the third major accumulation move of this whale, and they have made a total of $59 million in accumulations since December. Despite market fluctuations, Bitcoin whales continue to accumulate significant amounts of Bitcoin. The Latest Situation in the Bitcoin Market According to CryptoQuant CEO Ki Young Ju, new Bitcoin whales have 1.8 million BTC, equivalent to 9% of the market. However, according to IntoTheBlock data, whales have not made bulk purchases despite expectations of a weekend battle. According to CoinGecko data, the price of Bitcoin is currently at $63,000 and has experienced an 11% drop in the past week. Activities of Ethereum Whales According to Lookonchain’s report, significant movements are also observed in the Ethereum market parallel to those in Bitcoin. Two major Ethereum whales made approximately $80 […]

Bitcoin and Ethereum Whales’ Recent Moves

According to Lookonchain analytics firm, a major Bitcoin whale accumulated $16 million worth of Bitcoin after market declines. This was recorded as the third major accumulation move of this whale, and they have made a total of $59 million in accumulations since December. Despite market fluctuations, Bitcoin whales continue to accumulate significant amounts of Bitcoin.

The Latest Situation in the Bitcoin Market

According to CryptoQuant CEO Ki Young Ju, new Bitcoin whales have 1.8 million BTC, equivalent to 9% of the market. However, according to IntoTheBlock data, whales have not made bulk purchases despite expectations of a weekend battle. According to CoinGecko data, the price of Bitcoin is currently at $63,000 and has experienced an 11% drop in the past week.

Activities of Ethereum Whales

According to Lookonchain’s report, significant movements are also observed in the Ethereum market parallel to those in Bitcoin. Two major Ethereum whales made approximately $80 million in purchases via OKX and Binance. In addition, the approval of spot Bitcoin and Ethereum ETFs in Hong Kong could trigger new accumulation movements in the market.

Useful Information

Bitcoin and Ethereum whales perceive market declines as buying opportunities.
Bulk purchases usually occur before or during significant market movements.
Approvals of ETFs, especially for major cryptocurrencies, can have a positive impact on the market.

Although approvals of ETFs in the Hong Kong market are minor, there could be significant movements in the market if similar approvals are obtained in the US. Bloomberg ETF analyst Eric Balchunas highlights the small size of the ETF market and the impact of high fees, and states that the likelihood of spot Ethereum ETFs being approved in the US is low.

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